Heritage Trust Co trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 20.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,662 shares of the company’s stock after selling 2,474 shares during the quarter. Heritage Trust Co’s holdings in Philip Morris International were worth $706,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital World Investors lifted its position in Philip Morris International by 25.6% in the 4th quarter. Capital World Investors now owns 73,389,553 shares of the company’s stock valued at $6,244,717,000 after acquiring an additional 14,952,837 shares in the last quarter. BlackRock Inc. lifted its position in Philip Morris International by 2.3% in the 1st quarter. BlackRock Inc. now owns 96,880,168 shares of the company’s stock valued at $7,068,378,000 after acquiring an additional 2,144,926 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Philip Morris International by 9.2% in the 1st quarter. Bank of New York Mellon Corp now owns 20,035,578 shares of the company’s stock valued at $1,461,795,000 after acquiring an additional 1,681,745 shares in the last quarter. Swiss National Bank lifted its position in Philip Morris International by 22.4% in the 1st quarter. Swiss National Bank now owns 6,262,618 shares of the company’s stock valued at $456,921,000 after acquiring an additional 1,146,200 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Philip Morris International by 18.6% in the 4th quarter. Alliancebernstein L.P. now owns 7,184,298 shares of the company’s stock valued at $611,312,000 after acquiring an additional 1,129,097 shares in the last quarter. 74.02% of the stock is currently owned by institutional investors.
PM traded down $0.05 on Friday, reaching $70.45. The company had a trading volume of 2,546,855 shares, compared to its average volume of 5,332,155. Philip Morris International Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $90.17. The stock has a market cap of $109.78 billion, a P/E ratio of 14.32, a P/E/G ratio of 2.15 and a beta of 0.79. The company’s fifty day moving average is $73.12 and its 200 day moving average is $80.74.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.21 EPS for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.08. Philip Morris International had a net margin of 9.75% and a negative return on equity of 84.38%. The business had revenue of $7.15 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same quarter in the prior year, the business earned $1.09 EPS. Philip Morris International’s quarterly revenue was up 6.0% on a year-over-year basis. Research analysts forecast that Philip Morris International Inc. will post 4.95 earnings per share for the current fiscal year.
Several research firms recently commented on PM. UBS Group boosted their price objective on shares of Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Citigroup cut their price target on shares of Philip Morris International from $90.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Goldman Sachs Group initiated coverage on shares of Philip Morris International in a research report on Wednesday, April 1st. They set a “buy” rating and a $80.00 price target on the stock. Finally, Cfra boosted their price target on shares of Philip Morris International from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $91.14.
In other Philip Morris International news, insider Marc S. Firestone sold 22,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $86.27, for a total value of $1,897,940.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.22% of the company’s stock.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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