CFO4Life Group LLC Has $249,000 Stake in Philip Morris International Inc (PM)
CFO4Life Group LLC lessened its holdings in shares of Philip Morris International Inc (NYSE:PM) by 36.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,116 shares of the company’s stock after selling 1,232 shares during the period. CFO4Life Group LLC’s holdings in Philip Morris International were worth $249,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Hourglass Capital LLC raised its stake in Philip Morris International by 0.9% in the 2nd quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock worth $8,957,000 after acquiring an additional 650 shares during the last quarter. Wedbush Securities Inc. raised its stake in Philip Morris International by 28.0% in the 2nd quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock worth $2,212,000 after acquiring an additional 4,123 shares during the last quarter. Suffolk Capital Management LLC purchased a new position in Philip Morris International in the 2nd quarter worth $12,928,000. LMR Partners LLP raised its stake in Philip Morris International by 274.0% in the 2nd quarter. LMR Partners LLP now owns 21,391 shares of the company’s stock worth $2,512,000 after acquiring an additional 15,671 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in Philip Morris International by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 514,313 shares of the company’s stock worth $58,076,000 after acquiring an additional 7,050 shares during the last quarter. Hedge funds and other institutional investors own 72.22% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $140.00 price target on shares of Philip Morris International in a research report on Tuesday, October 10th. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) raised Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target on the stock in a research report on Thursday, September 28th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and set a $125.00 price target (down from $128.00) on shares of Philip Morris International in a research report on Monday, July 24th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Philip Morris International presently has a consensus rating of “Buy” and an average target price of $124.23.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of Philip Morris International stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by insiders.
Philip Morris International Inc (NYSE:PM) opened at $102.66 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55. The firm has a market cap of $158,504.36, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 2.06 and a beta of 0.91.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The business had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period last year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. sell-side analysts predict that Philip Morris International Inc will post 4.75 earnings per share for the current fiscal year.
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About Philip Morris International
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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