Cullen Frost Bankers Inc. Sells 4,525 Shares of Philip Morris International Inc. (NYSE:PM)

Cullen Frost Bankers Inc. lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 286,386 shares of the company’s stock after selling 4,525 shares during the period. Cullen Frost Bankers Inc.’s holdings in Philip Morris International were worth $29,019,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Philip Morris International by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after purchasing an additional 481,636 shares during the last quarter. Capital World Investors increased its stake in shares of Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after purchasing an additional 1,684,992 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Philip Morris International by 0.6% in the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock valued at $1,234,963,000 after purchasing an additional 77,820 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PM. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America upped their target price on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus upped their target price on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. upped their target price on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Finally, Barclays upped their target price on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.70.

Philip Morris International Trading Up 0.5 %

PM stock traded up $0.63 during trading on Friday, reaching $125.81. 8,412,610 shares of the stock were exchanged, compared to its average volume of 5,317,667. The firm’s 50 day moving average is $113.87 and its 200 day moving average is $102.23. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $127.45. The firm has a market cap of $195.58 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 earnings per share. As a group, analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.