Atom Investors LP raised its stake in Philip Morris International Inc. (NYSE:PM) by 134.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,250 shares of the company’s stock after purchasing an additional 24,826 shares during the quarter. Atom Investors LP’s holdings in Philip Morris International were worth $3,030,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the business. Logan Capital Management Inc. raised its stake in Philip Morris International by 4.1% in the 2nd quarter. Logan Capital Management Inc. now owns 225,503 shares of the company’s stock worth $15,799,000 after purchasing an additional 8,933 shares in the last quarter. Cape Cod Five Cents Savings Bank boosted its stake in shares of Philip Morris International by 38.2% in the second quarter. Cape Cod Five Cents Savings Bank now owns 4,691 shares of the company’s stock valued at $329,000 after buying an additional 1,296 shares during the period. Stearns Financial Services Group grew its position in Philip Morris International by 12.4% during the second quarter. Stearns Financial Services Group now owns 8,823 shares of the company’s stock worth $618,000 after buying an additional 972 shares in the last quarter. London Co. of Virginia increased its stake in Philip Morris International by 125.9% during the 2nd quarter. London Co. of Virginia now owns 1,949,432 shares of the company’s stock worth $136,577,000 after acquiring an additional 1,086,423 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in Philip Morris International by 9.5% in the 2nd quarter. Baird Financial Group Inc. now owns 371,144 shares of the company’s stock valued at $29,218,000 after acquiring an additional 32,143 shares in the last quarter. 73.98% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Louis C. Camilleri sold 75,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $77.73, for a total value of $5,829,750.00. 0.22% of the stock is currently owned by company insiders.
A number of research analysts recently commented on PM shares. Stifel Nicolaus boosted their price target on Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. Piper Sandler reiterated a “buy” rating and set a $98.00 price target on shares of Philip Morris International in a research report on Tuesday, August 4th. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. Citigroup reaffirmed a “hold” rating and issued a $75.00 target price on shares of Philip Morris International in a report on Tuesday, June 30th. Finally, Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 price objective for the company. in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $90.08.
Shares of Philip Morris International stock traded down $0.17 during trading on Friday, hitting $79.15. The company’s stock had a trading volume of 4,107,065 shares, compared to its average volume of 3,444,538. The stock has a market cap of $123.26 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 2.37 and a beta of 0.76. Philip Morris International Inc. has a 52 week low of $56.01 and a 52 week high of $90.17. The stock has a 50-day moving average price of $77.84 and a two-hundred day moving average price of $75.39.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 21st. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.19. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $6.54 billion. During the same quarter in the previous year, the company posted $1.46 EPS. The business’s revenue was down 13.6% on a year-over-year basis. Analysts predict that Philip Morris International Inc. will post 5.06 EPS for the current fiscal year.
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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