DekaBank Deutsche Girozentrale trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 29.2% in the second quarter, Holdings Channel.com reports. The fund owned 928,022 shares of the company’s stock after selling 382,985 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Philip Morris International were worth $72,681,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. CX Institutional lifted its position in Philip Morris International by 432.1% during the first quarter. CX Institutional now owns 447 shares of the company’s stock worth $40,000 after purchasing an additional 363 shares during the period. Manchester Financial Inc. bought a new position in shares of Philip Morris International during the 2nd quarter worth approximately $36,000. Brand Asset Management Group Inc. boosted its holdings in shares of Philip Morris International by 34.9% during the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after buying an additional 122 shares in the last quarter. Shamrock Asset Management LLC boosted its holdings in shares of Philip Morris International by 53.9% during the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock worth $50,000 after buying an additional 200 shares in the last quarter. Finally, HMS Capital Management LLC bought a new position in shares of Philip Morris International during the 2nd quarter worth approximately $46,000. Institutional investors own 73.70% of the company’s stock.
In other news, VP Michael R. Kunst bought 500 shares of the stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $80.74 per share, with a total value of $40,370.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mario Masseroli sold 1,100 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.41 earnings per share. As a group, equities analysts anticipate that Philip Morris International Inc. will post 5.21 earnings per share for the current year.
A number of equities analysts have issued reports on the company. Morgan Stanley cut their price target on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Bank of America upgraded Philip Morris International from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $81.00 to $94.00 in a report on Friday, May 17th. Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 19th. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $82.00 to $100.00 in a report on Friday, July 19th. Finally, Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Philip Morris International has a consensus rating of “Hold” and an average target price of $93.92.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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