Wright Investors Service Inc. decreased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 19.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,185 shares of the company’s stock after selling 6,008 shares during the quarter. Wright Investors Service Inc.’s holdings in Philip Morris International were worth $1,978,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. CX Institutional raised its position in Philip Morris International by 432.1% in the first quarter. CX Institutional now owns 447 shares of the company’s stock valued at $40,000 after purchasing an additional 363 shares during the period. Manchester Financial Inc. purchased a new stake in Philip Morris International in the second quarter valued at $36,000. Brand Asset Management Group Inc. raised its position in Philip Morris International by 34.9% in the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after purchasing an additional 122 shares during the period. Shamrock Asset Management LLC raised its position in Philip Morris International by 53.9% in the first quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after purchasing an additional 200 shares during the period. Finally, HMS Capital Management LLC purchased a new stake in Philip Morris International in the second quarter valued at $46,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

In related news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael R. Kunst bought 500 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were bought at an average cost of $80.74 per share, with a total value of $40,370.00. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

A number of research firms have commented on PM. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Wells Fargo & Co set a $102.00 target price on Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 19th. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Bank of America upgraded Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $81.00 to $94.00 in a research report on Friday, May 17th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $93.92.

Shares of NYSE PM traded up $0.94 during trading on Thursday, reaching $84.27. The stock had a trading volume of 140,602 shares, compared to its average volume of 5,210,903. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74. The stock has a 50-day moving average price of $82.61. The stock has a market capitalization of $128.19 billion, a P/E ratio of 16.52, a P/E/G ratio of 2.01 and a beta of 0.96.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The business had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the previous year, the firm posted $1.41 earnings per share. The company’s revenue was down .3% on a year-over-year basis. As a group, equities analysts expect that Philip Morris International Inc. will post 5.21 earnings per share for the current year.

Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and 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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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