Sequoia Financial Advisors LLC lifted its stake in Philip Morris International Inc. (NYSE:PM) by 110.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 11,388 shares of the company’s stock after buying an additional 5,976 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Philip Morris International were worth $831,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Solstein Capital LLC bought a new stake in shares of Philip Morris International during the 4th quarter valued at about $28,000. Howard Wealth Management LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $43,000. CBIZ Investment Advisory Services LLC bought a new position in Philip Morris International in the 4th quarter worth approximately $48,000. Key Financial Inc bought a new position in Philip Morris International in the 1st quarter worth approximately $41,000. Finally, S.A. Mason LLC bought a new position in Philip Morris International in the 4th quarter worth approximately $49,000. 74.02% of the stock is owned by institutional investors and hedge funds.
PM stock traded down $0.05 during trading on Friday, hitting $70.45. 2,546,855 shares of the company traded hands, compared to its average volume of 5,332,155. The stock’s 50-day simple moving average is $73.12 and its 200 day simple moving average is $80.74. The company has a market cap of $109.78 billion, a PE ratio of 14.32, a P/E/G ratio of 2.15 and a beta of 0.79. Philip Morris International Inc. has a 1 year low of $56.01 and a 1 year high of $90.17.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.08. The company had revenue of $7.15 billion during the quarter, compared to analysts’ expectations of $6.87 billion. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. Philip Morris International’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business earned $1.09 earnings per share. Research analysts predict that Philip Morris International Inc. will post 4.95 earnings per share for the current year.
In related news, insider Marc S. Firestone sold 22,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total transaction of $1,897,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.
Several analysts recently weighed in on the company. Goldman Sachs Group initiated coverage on Philip Morris International in a report on Wednesday, April 1st. They set a “buy” rating and a $80.00 price target on the stock. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 price target on the stock. in a research report on Wednesday, May 13th. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Citigroup decreased their price target on Philip Morris International from $90.00 to $78.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, Morgan Stanley reduced their price objective on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $91.14.
Philip Morris International Company 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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