Philip Morris International Inc (PM) Stake Increased by Utah Retirement Systems
Utah Retirement Systems lifted its position in Philip Morris International Inc (NYSE:PM) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 284,562 shares of the company’s stock after acquiring an additional 400 shares during the quarter. Philip Morris International makes up approximately 0.8% of Utah Retirement Systems’ portfolio, making the stock its 22nd largest position. Utah Retirement Systems’ holdings in Philip Morris International were worth $33,422,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hourglass Capital LLC grew its stake in shares of Philip Morris International by 0.9% in the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock worth $8,957,000 after acquiring an additional 650 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of Philip Morris International by 28.0% in the 2nd quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock worth $2,212,000 after acquiring an additional 4,123 shares in the last quarter. Suffolk Capital Management LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth $12,928,000. LMR Partners LLP grew its stake in shares of Philip Morris International by 274.0% in the 2nd quarter. LMR Partners LLP now owns 21,391 shares of the company’s stock worth $2,512,000 after acquiring an additional 15,671 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Philip Morris International by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 514,313 shares of the company’s stock worth $58,076,000 after acquiring an additional 7,050 shares in the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.
Several analysts have recently issued reports on the stock. SBG Securities upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and upped their target price for the stock from $118.00 to $119.00 in a research note on Friday, August 11th. BidaskClub upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $120.00 target price on shares of Philip Morris International in a research note on Thursday, September 28th. Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $130.00 price target on shares of Philip Morris International in a research report on Sunday, October 22nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $124.62.
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In other news, Chairman Louis C. Camilleri sold 108,979 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.
Shares of Philip Morris International Inc (NYSE:PM) opened at $102.72 on Wednesday. The company has a market cap of $160,772.03, a PE ratio of 23.05, a price-to-earnings-growth ratio of 2.09 and a beta of 0.91. Philip Morris International Inc has a fifty-two week low of $86.78 and a fifty-two week high of $123.55. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The business had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. Philip Morris International’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. equities research analysts anticipate that Philip Morris International Inc will post 4.76 EPS for the current year.
About Philip Morris International
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.
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