Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Philip Morris International Inc. (NYSE:PM) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The fund owned 249,521 shares of the company’s stock after acquiring an additional 6,179 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Philip Morris International were worth $22,055,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PM. Oregon Public Employees Retirement Fund increased its position in Philip Morris International by 6,541.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,319,091 shares of the company’s stock valued at $170,000 after acquiring an additional 11,148,661 shares during the period. BlackRock Inc. increased its position in Philip Morris International by 5.1% in the 4th quarter. BlackRock Inc. now owns 95,049,723 shares of the company’s stock valued at $6,345,520,000 after acquiring an additional 4,576,645 shares during the period. Deutsche Bank AG increased its position in Philip Morris International by 50.5% in the 4th quarter. Deutsche Bank AG now owns 11,054,233 shares of the company’s stock valued at $737,970,000 after acquiring an additional 3,710,763 shares during the period. Two Sigma Advisers LP increased its position in Philip Morris International by 168.1% in the 4th quarter. Two Sigma Advisers LP now owns 3,936,832 shares of the company’s stock valued at $262,823,000 after acquiring an additional 2,468,400 shares during the period. Finally, Flossbach Von Storch AG increased its position in Philip Morris International by 15.3% in the 4th quarter. Flossbach Von Storch AG now owns 18,204,516 shares of the company’s stock valued at $1,215,333,000 after acquiring an additional 2,419,260 shares during the period. Hedge funds and other institutional investors own 73.18% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Thursday, April 4th. Bank of America upgraded shares of Philip Morris International from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $81.00 to $94.00 in a research report on Friday. ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, April 9th. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $80.00 price objective on shares of Philip Morris International in a research report on Sunday, February 10th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. Philip Morris International has an average rating of “Hold” and a consensus target price of $93.38.
In related news, Director Louis C. Camilleri sold 70,000 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Andre Calantzopoulos sold 50,000 shares of the stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the transaction, the chief executive officer now directly owns 844,901 shares in the company, valued at $71,613,808.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,200 shares of company stock worth $10,186,984. 0.21% of the stock is owned by insiders.
Shares of NYSE PM opened at $86.81 on Friday. The firm has a market cap of $135.06 billion, a P/E ratio of 16.73, a P/E/G ratio of 2.18 and a beta of 0.93. Philip Morris International Inc. has a 12-month low of $64.67 and a 12-month high of $92.74.
Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, April 18th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.10. The business had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.76 billion. Philip Morris International had a net margin of 9.74% and a negative return on equity of 78.74%. Philip Morris International’s revenue was down 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. On average, analysts predict that Philip Morris International Inc. will post 5.19 EPS for the current year.
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About Philip Morris International
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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