Birinyi Associates Inc. decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,000 shares of the company’s stock after selling 1,000 shares during the quarter. Birinyi Associates Inc.’s holdings in Philip Morris International were worth $334,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Capital International Investors raised its holdings in Philip Morris International by 325.0% in the third quarter. Capital International Investors now owns 33,897,955 shares of the company’s stock valued at $2,764,039,000 after acquiring an additional 25,922,397 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Philip Morris International by 266,796.4% in the third quarter. Bank of New York Mellon Corp now owns 16,985,289 shares of the company’s stock valued at $1,384,981,000 after acquiring an additional 16,978,925 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Philip Morris International by 6,541.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,319,091 shares of the company’s stock valued at $170,000 after acquiring an additional 11,148,661 shares in the last quarter. Capital Research Global Investors raised its holdings in Philip Morris International by 11.0% in the third quarter. Capital Research Global Investors now owns 46,383,194 shares of the company’s stock valued at $3,782,086,000 after acquiring an additional 4,613,349 shares in the last quarter. Finally, Flossbach Von Storch AG raised its holdings in Philip Morris International by 15.3% in the fourth quarter. Flossbach Von Storch AG now owns 18,204,516 shares of the company’s stock valued at $1,215,333,000 after acquiring an additional 2,419,260 shares in the last quarter. 73.37% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on PM. Piper Jaffray Companies set a $110.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Monday, December 3rd. UBS Group raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and raised their target price for the company from $86.00 to $101.00 in a report on Wednesday, February 27th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a report on Thursday, February 14th. Credit Suisse Group cut shares of Philip Morris International from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $92.00 to $74.00 in a report on Tuesday, December 18th. Finally, Jefferies Financial Group reissued a “hold” rating and set a $80.00 price objective on shares of Philip Morris International in a report on Sunday, February 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $91.86.
PM stock opened at $87.02 on Thursday. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $109.90. The company has a market cap of $135.44 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 1.80 and a beta of 0.91.
Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, February 7th. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.09. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.46 billion. During the same quarter last year, the company earned $1.32 earnings per share. The firm’s revenue for the quarter was down 9.6% on a year-over-year basis. Sell-side analysts expect that Philip Morris International Inc. will post 5.4 EPS for the current year.
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About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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