Mason Street Advisors LLC lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,657 shares of the company’s stock after selling 228 shares during the quarter. Mason Street Advisors LLC’s holdings in Philip Morris International were worth $16,830,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Dupont Capital Management Corp lifted its position in Philip Morris International by 39.3% in the 2nd quarter. Dupont Capital Management Corp now owns 194,221 shares of the company’s stock valued at $15,252,000 after acquiring an additional 54,796 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in Philip Morris International by 11.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 558,230 shares of the company’s stock valued at $43,838,000 after acquiring an additional 57,445 shares in the last quarter. Invesco Ltd. lifted its position in Philip Morris International by 41.5% in the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after acquiring an additional 8,824,567 shares in the last quarter. National Pension Service lifted its position in Philip Morris International by 6.2% in the 2nd quarter. National Pension Service now owns 1,563,427 shares of the company’s stock valued at $122,776,000 after acquiring an additional 91,465 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in Philip Morris International by 1.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 84,991 shares of the company’s stock valued at $6,675,000 after acquiring an additional 961 shares in the last quarter. 74.17% of the stock is currently owned by institutional investors.
NYSE:PM traded up $0.17 on Monday, hitting $83.74. The stock had a trading volume of 2,918,031 shares, compared to its average volume of 5,853,548. The stock has a market cap of $131.00 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 2.05 and a beta of 1.00. Philip Morris International Inc. has a 1 year low of $64.67 and a 1 year high of $92.74. The firm’s fifty day simple moving average is $78.81 and its two-hundred day simple moving average is $80.34.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 17th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.08. The firm had revenue of $7.64 billion during the quarter, compared to analyst estimates of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. Research analysts expect that Philip Morris International Inc. will post 5.23 EPS for the current fiscal year.
Several brokerages recently weighed in on PM. Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $82.00 to $100.00 in a research report on Friday, July 19th. Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research note on Tuesday, October 1st. JPMorgan Chase & Co. set a $86.00 price objective on shares of Philip Morris International and gave the company a “neutral” rating in a research note on Wednesday, August 28th. Cowen reiterated a “hold” rating on shares of Philip Morris International in a research note on Thursday, September 12th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Philip Morris International in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $92.27.
About Philip Morris International
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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