National Asset Management Inc. lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 6.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,840 shares of the company’s stock after purchasing an additional 2,471 shares during the quarter. National Asset Management Inc.’s holdings in Philip Morris International were worth $3,251,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley increased its position in shares of Philip Morris International by 8.4% during the 1st quarter. Morgan Stanley now owns 42,365,463 shares of the company’s stock worth $3,090,983,000 after purchasing an additional 3,285,330 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Philip Morris International by 2.7% in the second quarter. First Eagle Investment Management LLC now owns 12,898,497 shares of the company’s stock valued at $903,669,000 after buying an additional 341,773 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Philip Morris International by 1.1% in the second quarter. Federated Hermes Inc. now owns 7,894,568 shares of the company’s stock valued at $553,094,000 after buying an additional 83,026 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in Philip Morris International by 47.4% during the second quarter. Independent Franchise Partners LLP now owns 7,135,405 shares of the company’s stock worth $499,906,000 after buying an additional 2,294,843 shares during the last quarter. Finally, Swiss National Bank raised its position in Philip Morris International by 1.6% during the second quarter. Swiss National Bank now owns 6,365,818 shares of the company’s stock worth $445,989,000 after acquiring an additional 103,200 shares in the last quarter. Institutional investors and hedge funds own 73.98% of the company’s stock.
Shares of NYSE PM traded down $0.59 during trading hours on Tuesday, reaching $78.04. 39,918 shares of the stock were exchanged, compared to its average volume of 5,405,188. The firm has a market capitalization of $122.45 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 2.15 and a beta of 0.78. The stock’s fifty day simple moving average is $74.82 and its 200 day simple moving average is $74.95. Philip Morris International Inc. has a 52 week low of $56.01 and a 52 week high of $90.17.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 20th. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.06. The firm had revenue of $7.45 billion for the quarter, compared to analyst estimates of $7.27 billion. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. On average, research analysts predict that Philip Morris International Inc. will post 5.08 EPS for the current fiscal year.
PM has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on shares of Philip Morris International from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Piper Sandler reiterated a “buy” rating and set a $98.00 price target on shares of Philip Morris International in a report on Tuesday, August 4th. Argus lowered Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, October 23rd. Citigroup raised Philip Morris International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $82.00 to $100.00 in a research report on Wednesday, October 7th. Finally, Bank of America boosted their target price on Philip Morris International from $90.00 to $92.00 and gave the stock a “buy” rating in a report on Friday, September 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $92.91.
In related news, Director Louis C. Camilleri sold 75,000 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $77.73, for a total value of $5,829,750.00. 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, 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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