WEALTHFRONT Corp cut its holdings in Philip Morris International Inc. (NYSE:PM) by 11.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,699 shares of the company’s stock after selling 3,187 shares during the quarter. WEALTHFRONT Corp’s holdings in Philip Morris International were worth $2,095,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Alerus Financial NA increased its position in shares of Philip Morris International by 11.3% during the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock worth $7,058,000 after purchasing an additional 8,897 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Philip Morris International by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock worth $16,235,000 after purchasing an additional 20,196 shares in the last quarter. Zacks Investment Management increased its position in shares of Philip Morris International by 7.4% during the second quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock worth $42,569,000 after purchasing an additional 36,303 shares in the last quarter. IMA Wealth Inc. purchased a new stake in shares of Philip Morris International during the second quarter worth approximately $149,000. Finally, Jupiter Asset Management Ltd. increased its position in shares of Philip Morris International by 102.3% during the second quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock worth $5,879,000 after purchasing an additional 36,816 shares in the last quarter. Institutional investors and hedge funds own 73.32% of the company’s stock.

In other news, Director Louis C. Camilleri sold 59,495 shares of the company’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $86.98, for a total value of $5,174,875.10. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

PM has been the subject of several analyst reports. Sanford C. Bernstein initiated coverage on Philip Morris International in a report on Tuesday, October 16th. They issued an “outperform” rating and a $97.00 target price for the company. ValuEngine upgraded Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a report on Friday, August 24th. Citigroup upped their target price on Philip Morris International from $90.00 to $95.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, Piper Jaffray Companies set a $99.00 target price on Philip Morris International and gave the company a “buy” rating in a report on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Hold” and a consensus price target of $95.73.

Shares of NYSE:PM opened at $85.30 on Thursday. The firm has a market capitalization of $132.80 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.96 and a beta of 0.60. Philip Morris International Inc. has a 52-week low of $76.21 and a 52-week high of $111.25.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.16. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same period in the prior year, the business earned $1.27 EPS. The firm’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 5.01 earnings per share for the current year.

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Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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

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