Fayez Sarofim & Co lessened its stake in shares of Philip Morris International Inc (NYSE:PM) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,894,295 shares of the company’s stock after selling 443,953 shares during the quarter. Philip Morris International accounts for about 9.8% of Fayez Sarofim & Co’s investment portfolio, making the stock its largest position. Fayez Sarofim & Co owned 1.02% of Philip Morris International worth $1,794,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its position in shares of Philip Morris International by 42.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 2,091,110 shares of the company’s stock worth $236,086,000 after buying an additional 618,100 shares during the period. Swiss National Bank raised its position in Philip Morris International by 26.2% in the 1st quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after purchasing an additional 1,189,800 shares during the last quarter. First Manhattan Co. raised its position in Philip Morris International by 1.6% in the 1st quarter. First Manhattan Co. now owns 1,724,204 shares of the company’s stock valued at $167,627,000 after purchasing an additional 26,507 shares during the last quarter. Access Financial Services Inc. raised its position in Philip Morris International by 5.0% in the 1st quarter. Access Financial Services Inc. now owns 5,853 shares of the company’s stock valued at $661,000 after purchasing an additional 280 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in Philip Morris International by 0.8% in the 1st quarter. Nationwide Fund Advisors now owns 639,311 shares of the company’s stock valued at $72,178,000 after purchasing an additional 5,318 shares during the last quarter. Institutional investors and hedge funds own 72.02% of the company’s stock.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Shares of Philip Morris International Inc (NYSE:PM) traded down 1.35% during midday trading on Friday, hitting $117.32. The company had a trading volume of 1,266,446 shares. The stock’s 50-day moving average price is $116.52 and its 200-day moving average price is $115.18. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The stock has a market capitalization of $182.22 billion, a price-to-earnings ratio of 26.00 and a beta of 0.94.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 earnings per share. Analysts predict that Philip Morris International Inc will post $4.83 EPS for the current year.

Several equities analysts have issued reports on PM shares. TheStreet upgraded Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $133.00 price objective (down previously from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Vetr downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $111.99 price objective for the company. in a research report on Monday, May 22nd. Bank of America Corporation lifted their price objective on Philip Morris International from $120.00 to $123.00 and gave the company a “neutral” rating in a research report on Tuesday, May 30th. Finally, BidaskClub downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $122.79.

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Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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