Argent Trust Co grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 27,899 shares of the company’s stock after acquiring an additional 722 shares during the period. Argent Trust Co’s holdings in Philip Morris International were worth $2,036,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Philip Morris International by 42.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 17,487 shares of the company’s stock valued at $1,488,000 after purchasing an additional 5,243 shares in the last quarter. Banco Santander S.A. purchased a new stake in shares of Philip Morris International during the 4th quarter worth about $7,591,000. Amalgamated Bank lifted its holdings in shares of Philip Morris International by 7.7% during the 4th quarter. Amalgamated Bank now owns 234,115 shares of the company’s stock valued at $19,921,000 after buying an additional 16,648 shares during the last quarter. BerganKDV Wealth Management LLC grew its stake in shares of Philip Morris International by 21.7% in the 4th quarter. BerganKDV Wealth Management LLC now owns 1,404 shares of the company’s stock valued at $119,000 after buying an additional 250 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. bought a new position in Philip Morris International during the fourth quarter valued at approximately $214,000. 74.02% of the stock is owned by institutional investors and hedge funds.
PM has been the topic of a number of recent research reports. Goldman Sachs Group initiated coverage on shares of Philip Morris International in a report on Wednesday, April 1st. They set a “buy” rating and a $80.00 price target on the stock. Cowen upgraded Philip Morris International from a “market perform” rating to an “outperform” rating and raised their target price for the company from $90.00 to $102.00 in a report on Thursday, February 13th. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th. Citigroup cut their price objective on Philip Morris International from $90.00 to $78.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Morgan Stanley decreased their target price on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, March 18th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Philip Morris International has an average rating of “Buy” and a consensus target price of $91.14.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 EPS for the quarter, beating 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 business had revenue of $7.15 billion during the quarter, compared to analyst estimates of $6.87 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, equities research analysts predict that Philip Morris International Inc. will post 4.95 EPS for the current year.
In other Philip Morris International news, insider Marc S. Firestone sold 22,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.22% 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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