Banco Santander S.A. cut its holdings in Philip Morris International Inc. (NYSE:PM) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 85,068 shares of the company’s stock after selling 4,145 shares during the quarter. Banco Santander S.A.’s holdings in Philip Morris International were worth $6,207,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of PM. Capital World Investors raised its position in shares of Philip Morris International by 25.6% during the fourth 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 during the period. BlackRock Inc. grew its holdings in 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 buying an additional 2,144,926 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in 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 buying an additional 1,681,745 shares in the last quarter. Swiss National Bank grew its holdings in Philip Morris International by 22.4% during the first quarter. Swiss National Bank now owns 6,262,618 shares of the company’s stock worth $456,921,000 after buying an additional 1,146,200 shares in the last quarter. Finally, Alliancebernstein L.P. grew its holdings in Philip Morris International by 18.6% during the fourth quarter. Alliancebernstein L.P. now owns 7,184,298 shares of the company’s stock worth $611,312,000 after buying an additional 1,129,097 shares in the last quarter. 74.02% of the stock is currently owned by institutional investors.
In other news, insider Marc S. Firestone sold 22,000 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by insiders.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.13 by $0.08. The business had revenue of $7.15 billion during the quarter, compared to analysts’ expectations of $6.87 billion. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 earnings per share. As a group, analysts anticipate that Philip Morris International Inc. will post 4.95 EPS for the current fiscal year.
Several research analysts have recently weighed in on PM shares. Morgan Stanley cut their price target on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday, March 18th. Cowen raised Philip Morris International from a “market perform” rating to an “outperform” rating and raised their price target for the company from $90.00 to $102.00 in a report on Thursday, February 13th. Cfra raised their price target on Philip Morris International from $90.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, February 6th. Panmure Gordon raised Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a report on Friday, April 3rd. Finally, Zacks Investment Research cut 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. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Philip Morris International presently has a consensus rating of “Buy” and a consensus target price of $91.14.
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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