Cipher Capital LP Boosts Stake in Philip Morris International Inc (PM)
Cipher Capital LP lifted its position in Philip Morris International Inc (NYSE:PM) by 255.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,352 shares of the company’s stock after buying an additional 47,690 shares during the period. Philip Morris International makes up 0.6% of Cipher Capital LP’s holdings, making the stock its 17th largest position. Cipher Capital LP’s holdings in Philip Morris International were worth $7,793,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PM. Amerigo Asset Management acquired a new position in shares of Philip Morris International in the 2nd quarter worth $209,061,000. Canada Pension Plan Investment Board grew its holdings in shares of Philip Morris International by 60.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,353,310 shares of the company’s stock worth $393,846,000 after acquiring an additional 1,262,200 shares during the last quarter. Swiss National Bank grew its holdings in shares of Philip Morris International by 26.2% in the 1st quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after acquiring an additional 1,189,800 shares during the last quarter. State Street Corp grew its holdings in shares of Philip Morris International by 1.8% in the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after acquiring an additional 1,058,408 shares during the last quarter. Finally, Harbour Capital Advisors LLC grew its holdings in shares of Philip Morris International by 11,280.7% in the 2nd quarter. Harbour Capital Advisors LLC now owns 862,200 shares of the company’s stock worth $7,341,000 after acquiring an additional 854,624 shares during the last quarter. 72.90% of the stock is currently owned by institutional investors.
A number of brokerages recently issued reports on PM. Piper Jaffray Companies restated an “overweight” rating and issued a $134.00 target price on shares of Philip Morris International in a report on Monday, July 31st. BidaskClub cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Cowen and Company reiterated a “buy” rating and set a $135.00 price target on shares of Philip Morris International in a report on Tuesday, August 22nd. Jefferies Group LLC reiterated a “hold” rating and set a $120.00 price target (down previously from $121.00) on shares of Philip Morris International in a report on Thursday, August 24th. Finally, SBG Securities upgraded Philip Morris International from a “sell” rating to a “hold” rating and lifted their price target for the company from $118.00 to $119.00 in a report on Friday, August 11th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $124.23.
Shares of Philip Morris International Inc (PM) opened at $103.54 on Thursday. The stock has a market capitalization of $160,539.05, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.09 and a beta of 0.91. Philip Morris International Inc has a 12-month low of $86.78 and a 12-month 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $1.25 EPS. equities analysts forecast that Philip Morris International Inc will post 4.75 EPS for the current year.
In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total value of $11,811,144.02. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
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.
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