NEXT Financial Group Inc boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 197.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,576 shares of the company’s stock after buying an additional 7,024 shares during the quarter. NEXT Financial Group Inc’s holdings in Philip Morris International were worth $831,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. CX Institutional grew its position in shares of Philip Morris International by 432.1% during the 1st quarter. CX Institutional now owns 447 shares of the company’s stock worth $40,000 after buying an additional 363 shares during the period. Shamrock Asset Management LLC grew its position in Philip Morris International by 53.9% in the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after purchasing an additional 200 shares during the period. HMS Capital Management LLC bought a new position in Philip Morris International during the 2nd quarter valued at $46,000. Clarfeld Financial Advisors LLC bought a new position in Philip Morris International during the 4th quarter valued at $40,000. Finally, Weaver Consulting Group bought a new position in Philip Morris International during the 1st quarter valued at $55,000. Institutional investors and hedge funds own 73.70% of the company’s stock.
A number of equities research analysts have recently commented on PM shares. Morgan Stanley lowered their target price on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Bank of America upgraded Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $81.00 to $94.00 in a research note on Friday, May 17th. Wells Fargo & Co set a $102.00 target price on Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 19th. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $82.00 to $100.00 in a research note on Friday, July 19th. Finally, Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $93.92.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The company had revenue of $7.70 billion during the quarter, compared to the consensus estimate 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 for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. On average, research analysts anticipate that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.
In related news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Michael R. Kunst acquired 500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were purchased 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. Company insiders own 0.21% of the company’s stock.
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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