Argent Trust Co grew its position in Philip Morris International Inc. (NYSE:PM) by 2.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,899 shares of the company’s stock after buying an additional 722 shares during the period. Argent Trust Co’s holdings in Philip Morris International were worth $2,036,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PM. Capital World Investors increased its stake in Philip Morris International by 25.6% during the 4th quarter. Capital World Investors now owns 73,389,553 shares of the company’s stock worth $6,244,717,000 after purchasing an additional 14,952,837 shares in the last quarter. BlackRock Inc. increased its position in shares of Philip Morris International by 2.3% during the first quarter. BlackRock Inc. now owns 96,880,168 shares of the company’s stock worth $7,068,378,000 after acquiring an additional 2,144,926 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Philip Morris International by 9.2% during the first quarter. Bank of New York Mellon Corp now owns 20,035,578 shares of the company’s stock worth $1,461,795,000 after acquiring an additional 1,681,745 shares during the period. Swiss National Bank lifted its position in Philip Morris International by 22.4% in the 1st quarter. Swiss National Bank now owns 6,262,618 shares of the company’s stock valued at $456,921,000 after acquiring an additional 1,146,200 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Philip Morris International by 18.6% in the 4th quarter. Alliancebernstein L.P. now owns 7,184,298 shares of the company’s stock worth $611,312,000 after purchasing an additional 1,129,097 shares during the period. 74.02% of the stock is owned by institutional investors.
Shares of NYSE:PM traded down $0.05 during midday trading on Friday, hitting $70.45. The stock had a trading volume of 2,546,855 shares, compared to its average volume of 5,332,155. The company has a market cap of $109.78 billion, a P/E ratio of 14.32, a PEG ratio of 2.15 and a beta of 0.79. Philip Morris International Inc. has a 12 month low of $56.01 and a 12 month high of $90.17. The business’s 50-day simple moving average is $73.12 and its 200-day simple moving average is $80.74.
PM has been the topic of a number of research reports. Zacks Investment Research lowered Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 price target on the stock. in a report on Wednesday, May 13th. Panmure Gordon raised Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Friday, April 3rd. Morgan Stanley reduced their price target on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. UBS Group raised their price target on shares of Philip Morris International from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, Cfra lifted their price objective on shares of Philip Morris International from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Philip Morris International presently has a consensus rating of “Buy” and an average target price of $91.14.
In related news, insider Marc S. Firestone sold 22,000 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $86.27, for a total value of $1,897,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.
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.
Featured Story: What does a bar chart display?
Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.