TD Asset Management Inc. raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 41.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,234,245 shares of the company’s stock after acquiring an additional 359,389 shares during the quarter. TD Asset Management Inc.’s holdings in Philip Morris International were worth $96,925,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of PM. Pendal Group Ltd increased its holdings in shares of Philip Morris International by 31.5% in the second quarter. Pendal Group Ltd now owns 2,658,816 shares of the company’s stock worth $187,959,000 after purchasing an additional 637,613 shares during the period. Charter Trust Co. increased its holdings in shares of Philip Morris International by 10.9% in the second quarter. Charter Trust Co. now owns 3,906 shares of the company’s stock worth $307,000 after purchasing an additional 384 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Philip Morris International by 1.4% in the second quarter. CIBC Private Wealth Group LLC now owns 72,942 shares of the company’s stock worth $5,729,000 after purchasing an additional 1,007 shares during the period. Sheaff Brock Investment Advisors LLC increased its holdings in shares of Philip Morris International by 11.4% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 64,359 shares of the company’s stock worth $5,054,000 after purchasing an additional 6,590 shares during the period. Finally, Cibc Bank USA increased its holdings in shares of Philip Morris International by 0.5% in the second quarter. Cibc Bank USA now owns 46,965 shares of the company’s stock worth $3,688,000 after purchasing an additional 238 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

PM traded down $0.52 during trading on Wednesday, reaching $83.43. The stock had a trading volume of 193,689 shares, compared to its average volume of 5,398,610. The stock has a market capitalization of $129.76 billion, a PE ratio of 16.34, a PEG ratio of 2.02 and a beta of 0.96. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $92.74. The firm’s 50-day moving average is $82.51.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.13. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 earnings per share. Equities analysts anticipate that Philip Morris International Inc. will post 5.21 earnings per share for the current year.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Michael R. Kunst purchased 500 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were acquired at an average price of $80.74 per share, with a total value of $40,370.00. The disclosure for this purchase can be found here. 0.21% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on the stock. Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $82.00 to $100.00 in a report on Friday, July 19th. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and increased their target price for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $93.92.

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

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