Jacobi Capital Management LLC Acquires 100 Shares of Philip Morris International Inc (PM)
Jacobi Capital Management LLC raised its position in Philip Morris International Inc (NYSE:PM) by 3.9% during the first quarter, Holdings Channel reports. The institutional investor owned 2,691 shares of the company’s stock after buying an additional 100 shares during the period. Jacobi Capital Management LLC’s holdings in Philip Morris International were worth $305,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in PM. Gradient Investments LLC raised its position in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock worth $111,000 after buying an additional 426 shares in the last quarter. Welch Investments LLC purchased a new position in Philip Morris International during the first quarter valued at approximately $113,000. American Beacon Advisors Inc. purchased a new position in Philip Morris International during the first quarter valued at approximately $114,000. Acropolis Investment Management LLC purchased a new position in Philip Morris International during the first quarter valued at approximately $117,000. Finally, Gemmer Asset Management LLC raised its position in Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after buying an additional 322 shares in the last quarter. 72.30% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International Inc (NYSE PM) traded down 0.78% during mid-day trading on Friday, hitting $115.02. 1,187,005 shares of the stock traded hands. The firm has a market capitalization of $178.65 billion, a P/E ratio of 25.49 and a beta of 0.93. Philip Morris International Inc has a 1-year low of $86.78 and a 1-year high of $123.55. The company has a 50-day moving average of $117.25 and a 200 day moving average of $113.51.
Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by $0.09. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The business had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the previous year, the business earned $1.15 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Philip Morris International Inc will post $4.83 EPS for the current year.
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Several equities analysts have commented on the stock. BidaskClub raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Saturday, August 12th. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and raised their target price for the company from $118.00 to $119.00 in a report on Friday, August 11th. Piper Jaffray Companies reissued an “overweight” rating and issued a $134.00 target price on shares of Philip Morris International in a report on Monday, July 31st. Citigroup Inc. reissued a “neutral” rating and issued a $125.00 target price (down from $128.00) on shares of Philip Morris International in a report on Monday, July 24th. Finally, Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $121.79.
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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