Sequoia Financial Advisors LLC Acquires 5,976 Shares of Philip Morris International Inc. (NYSE:PM)

Sequoia Financial Advisors LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 110.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,388 shares of the company’s stock after acquiring an additional 5,976 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Philip Morris International were worth $831,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital World Investors boosted its stake in shares of Philip Morris International by 25.6% in the 4th quarter. Capital World Investors now owns 73,389,553 shares of the company’s stock valued at $6,244,717,000 after purchasing an additional 14,952,837 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Philip Morris International by 2.3% in the 1st quarter. BlackRock Inc. now owns 96,880,168 shares of the company’s stock valued at $7,068,378,000 after purchasing an additional 2,144,926 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Philip Morris International by 9.2% in the 1st quarter. Bank of New York Mellon Corp now owns 20,035,578 shares of the company’s stock valued at $1,461,795,000 after purchasing an additional 1,681,745 shares during the last quarter. Swiss National Bank boosted its stake in shares of 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 purchasing an additional 1,146,200 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Philip Morris International by 18.6% in the 4th quarter. Alliancebernstein L.P. now owns 7,184,298 shares of the company’s stock valued at $611,312,000 after purchasing an additional 1,129,097 shares during the last quarter. 74.02% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Marc S. Firestone sold 22,000 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $86.27, for a total value of $1,897,940.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

PM traded down $0.05 during trading on Friday, hitting $70.45. 2,546,855 shares of the company’s stock were exchanged, compared to its average volume of 5,332,155. The business’s 50 day moving average is $73.12 and its two-hundred day moving average is $80.74. Philip Morris International Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $90.17. The stock 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 (NYSE:PM) last released its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $7.15 billion for the quarter, compared to the consensus estimate of $6.87 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. As a group, research analysts expect that Philip Morris International Inc. will post 4.95 earnings per share for the current year.

A number of research firms have recently commented on PM. UBS Group upped their price objective on shares of Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Cowen upgraded shares of Philip Morris International from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $90.00 to $102.00 in a research report on Thursday, February 13th. Panmure Gordon upgraded shares of 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. Citigroup dropped their target price on shares of Philip Morris International from $90.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 target price on the stock. in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $91.14.

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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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