Philip Morris International Inc (PM) Holdings Cut by Westpac Banking Corp
Westpac Banking Corp cut its position in Philip Morris International Inc (NYSE:PM) by 20.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,906 shares of the company’s stock after selling 31,538 shares during the quarter. Westpac Banking Corp’s holdings in Philip Morris International were worth $14,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guidant Wealth Advisors lifted its stake in Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after purchasing an additional 191 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in Philip Morris International in the 1st quarter worth approximately $114,000. Acropolis Investment Management LLC lifted its stake in Philip Morris International by 0.5% in the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares in the last quarter. BDO Wealth Advisors LLC purchased a new stake in Philip Morris International in the 2nd quarter worth approximately $178,000. Finally, Burt Wealth Advisors lifted its stake in Philip Morris International by 33.0% in the 2nd quarter. Burt Wealth Advisors now owns 1,613 shares of the company’s stock worth $189,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 72.90% of the company’s stock.
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A number of brokerages have recently commented on PM. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and increased their price target for the stock from $118.00 to $119.00 in a report on Friday, August 11th. Wells Fargo & Company reissued an “outperform” rating and issued a $135.00 price target (down previously from $140.00) on shares of Philip Morris International in a report on Wednesday, November 15th. Piper Jaffray Companies set a $130.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a report on Thursday, November 16th. Jefferies Group LLC reissued a “hold” rating and issued a $120.00 price target on shares of Philip Morris International in a report on Thursday, September 28th. Finally, BidaskClub lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Philip Morris International has an average rating of “Buy” and a consensus target price of $124.23.
In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.
Philip Morris International Inc (NYSE:PM) opened at $103.54 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. Philip Morris International Inc has a twelve month low of $86.78 and a twelve month high of $123.55. The company has a market cap of $160,539.05, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.09 and a beta of 0.91.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same period in the prior year, the business posted $1.25 EPS. Philip Morris International’s revenue for the quarter was up 7.4% on a year-over-year basis. research analysts forecast that Philip Morris International Inc will post 4.75 earnings per share for the current year.
Philip Morris International Company Profile
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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