Philip Morris International Inc (PM) Shares Sold by Cypress Capital Group
Cypress Capital Group decreased its stake in Philip Morris International Inc (NYSE:PM) by 4.0% during the first quarter, Holdings Channel reports. The firm owned 75,933 shares of the company’s stock after selling 3,184 shares during the period. Philip Morris International makes up about 2.0% of Cypress Capital Group’s investment portfolio, making the stock its 12th largest position. Cypress Capital Group’s holdings in Philip Morris International were worth $8,573,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lau Associates LLC raised its position in Philip Morris International by 2.0% in the first quarter. Lau Associates LLC now owns 5,476 shares of the company’s stock valued at $618,000 after buying an additional 110 shares during the period. Wsfs Capital Management LLC purchased a new position in Philip Morris International during the fourth quarter valued at approximately $402,000. Philadelphia Trust Co. raised its position in Philip Morris International by 9.5% in the fourth quarter. Philadelphia Trust Co. now owns 6,603 shares of the company’s stock valued at $604,000 after buying an additional 575 shares during the period. Highbridge Capital Management LLC raised its position in Philip Morris International by 180.4% in the fourth quarter. Highbridge Capital Management LLC now owns 147,038 shares of the company’s stock valued at $13,453,000 after buying an additional 94,599 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Philip Morris International during the fourth quarter valued at approximately $4,595,000. 72.45% of the stock is currently owned by institutional investors.
Philip Morris International Inc (NYSE PM) traded up 0.58% during mid-day trading on Friday, hitting $114.88. The company had a trading volume of 2,653,779 shares. The firm has a market cap of $178.43 billion, a P/E ratio of 25.46 and a beta of 0.93. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The stock’s 50 day moving average price is $117.56 and its 200 day moving average price is $112.93.
Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.23 by $0.09. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.
A number of research analysts have recently issued reports on the company. Vetr lowered Philip Morris International from a “hold” rating to a “sell” rating and set a $117.88 target price on the stock. in a report on Monday, June 19th. Jefferies Group LLC reissued a “hold” rating and issued a $121.00 target price on shares of Philip Morris International in a report on Tuesday, June 20th. BidaskClub raised Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Wells Fargo & Company reissued an “outperform” rating on shares of Philip Morris International in a report on Friday, June 9th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $134.00 target price on shares of Philip Morris International in a report on Thursday, June 1st. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $122.00.
About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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