Cigna Investments Inc. New lifted its stake in Philip Morris International Inc. (NYSE:PM) by 6.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,920 shares of the company’s stock after purchasing an additional 2,707 shares during the period. Cigna Investments Inc. New’s holdings in Philip Morris International were worth $3,204,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of PM. BlackRock Inc. boosted its holdings in Philip Morris International by 2.3% in the 1st 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 during the period. Capital World Investors boosted its holdings in Philip Morris International by 25.6% in the 4th quarter. Capital World Investors now owns 73,389,553 shares of the company’s stock worth $6,244,717,000 after buying an additional 14,952,837 shares during the period. Capital Research Global Investors boosted its holdings in Philip Morris International by 2.0% in the 4th quarter. Capital Research Global Investors now owns 39,525,390 shares of the company’s stock worth $3,363,216,000 after buying an additional 793,836 shares during the period. Capital International Investors boosted its holdings in Philip Morris International by 2.5% in the 4th quarter. Capital International Investors now owns 36,680,609 shares of the company’s stock worth $3,121,153,000 after buying an additional 879,917 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Philip Morris International by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 25,787,931 shares of the company’s stock worth $2,190,636,000 after buying an additional 722,472 shares during the period. Hedge funds and other institutional investors own 74.02% of the company’s stock.
Several brokerages recently weighed in on PM. Goldman Sachs Group assumed coverage on shares of Philip Morris International in a report on Wednesday, April 1st. They issued a “buy” rating and a $80.00 target price for the company. Morgan Stanley dropped their price objective on shares of Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Citigroup dropped their price objective on shares of Philip Morris International from $90.00 to $78.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Cowen raised shares of Philip Morris International from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $90.00 to $102.00 in a report on Thursday, February 13th. Finally, Cfra increased 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 research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $91.14.
Philip Morris International stock traded down $0.05 during midday trading on Friday, reaching $70.45. The stock had a trading volume of 2,546,855 shares, compared to its average volume of 5,332,155. Philip Morris International Inc. has a 52-week low of $56.01 and a 52-week high of $90.17. The firm has a market cap of $109.78 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79. The company has a fifty day moving average of $73.12 and a 200 day moving average of $80.74.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.08. Philip Morris International had a net margin of 9.75% and a negative return on equity of 84.38%. The company had revenue of $7.15 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same period in the prior year, the company posted $1.09 EPS. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities analysts forecast that Philip Morris International Inc. will post 4.95 EPS for the current fiscal year.
Philip Morris International Company 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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