Philip Morris International Inc. (PM) Stake Held by Fidelity National Financial Inc.
Fidelity National Financial Inc. held its position in shares of Philip Morris International Inc. (NYSE:PM) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 224,600 shares of the company’s stock at the end of the third quarter. Philip Morris International accounts for about 5.1% of Fidelity National Financial Inc.’s investment portfolio, making the stock its 5th largest position. Fidelity National Financial Inc.’s holdings in Philip Morris International were worth $21,836,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PM. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in Philip Morris International by 233.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,000 shares of the company’s stock valued at $101,000 after buying an additional 700 shares during the period. Glassman Wealth Services raised its stake in Philip Morris International by 0.4% in the second quarter. Glassman Wealth Services now owns 1,000 shares of the company’s stock valued at $102,000 after buying an additional 4 shares during the period. Acropolis Investment Management LLC raised its stake in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,054 shares of the company’s stock valued at $107,000 after buying an additional 5 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Philip Morris International during the second quarter valued at $113,000. Finally, Liberty Capital Management Inc. purchased a new stake in Philip Morris International during the third quarter valued at $116,000. 71.01% of the stock is currently owned by hedge funds and other institutional investors.
Philip Morris International Inc. (NYSE:PM) traded up 0.45% during trading on Friday, hitting $89.29. The stock had a trading volume of 3,850,451 shares. The firm has a market cap of $138.52 billion, a price-to-earnings ratio of 21.36 and a beta of 0.91. Philip Morris International Inc. has a 1-year low of $84.46 and a 1-year high of $104.20. The firm’s 50 day moving average is $93.88 and its 200 day moving average is $98.46.
Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, October 18th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.02. The business had revenue of $6.98 billion for the quarter, compared to analysts’ expectations of $7.01 billion. Philip Morris International had a negative return on equity of 59.94% and a net margin of 8.77%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS. On average, analysts anticipate that Philip Morris International Inc. will post $4.53 earnings per share for the current year.
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PM has been the topic of a number of analyst reports. Citigroup Inc. reaffirmed a “neutral” rating and set a $106.00 price objective on shares of Philip Morris International in a research note on Friday, October 21st. Wells Fargo & Co. reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Philip Morris International in a research note on Thursday, September 22nd. Goldman Sachs Group Inc. raised Philip Morris International from a “neutral” rating to a “buy” rating and increased their price objective for the company from $106.00 to $114.00 in a research note on Monday, September 12th. Jefferies Group set a $99.00 price objective on Philip Morris International and gave the company a “hold” rating in a research note on Wednesday, October 5th. Finally, Vetr raised Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Tuesday, September 13th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of “Buy” and a consensus price target of $104.82.
In related news, Director Jun Makihara bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were acquired at an average cost of $89.22 per share, for a total transaction of $178,440.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is owned by corporate insiders.
About Philip Morris International
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.
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