Princeton Global Asset Management LLC raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,428 shares of the company’s stock after purchasing an additional 1,805 shares during the period. Princeton Global Asset Management LLC’s holdings in Philip Morris International were worth $1,526,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Key Financial Inc acquired a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $31,000. Jeppson Wealth Management LLC acquired a new stake in shares of Philip Morris International in the 3rd quarter valued at approximately $33,000. Clearview Wealth Advisors LLC acquired a new stake in shares of Philip Morris International in the 4th quarter valued at approximately $37,000. Aua Capital Management LLC acquired a new stake in shares of Philip Morris International in the 3rd quarter valued at approximately $34,000. Finally, Newton One Investments LLC acquired a new stake in Philip Morris International during the 4th quarter worth approximately $39,000. Institutional investors own 74.18% of the company’s stock.
Several analysts have commented on PM shares. Edward Jones downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Tuesday, December 15th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research note on Tuesday, January 12th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $90.00 to $100.00 in a research note on Friday, February 5th. Smith Barney Citigroup reiterated a “” rating and set a $105.00 price target (up previously from $100.00) on shares of Philip Morris International in a research note on Friday, January 8th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price objective on shares of Philip Morris International from $100.00 to $105.00 in a research report on Friday, January 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $96.00.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 4th. The company reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.05. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.41 billion. Philip Morris International had a negative return on equity of 78.02% and a net margin of 10.07%. Philip Morris International’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. Research analysts anticipate that Philip Morris International Inc. will post 5.13 EPS for the current year.
In other Philip Morris International news, VP Marian Salzman sold 2,000 shares of Philip Morris International stock in a transaction dated Friday, February 5th. The stock was sold at an average price of $84.39, for a total value of $168,780.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by insiders.
Philip Morris International Company 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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