Dorsey & Whitney Trust CO LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 14.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,832 shares of the company’s stock after purchasing an additional 1,264 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Philip Morris International were worth $910,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. lifted its holdings in shares of Philip Morris International by 1.1% in the first quarter. Fairfield Bush & CO. now owns 26,141 shares of the company’s stock valued at $2,456,000 after purchasing an additional 281 shares in the last quarter. American Century Companies Inc. grew its position in shares of Philip Morris International by 35.6% in the first quarter. American Century Companies Inc. now owns 4,939 shares of the company’s stock valued at $463,000 after purchasing an additional 1,296 shares in the last quarter. Loomis Sayles & Co. L P grew its position in shares of Philip Morris International by 24.7% in the first quarter. Loomis Sayles & Co. L P now owns 3,065 shares of the company’s stock valued at $288,000 after purchasing an additional 608 shares in the last quarter. Covestor Ltd grew its position in shares of Philip Morris International by 54.9% in the first quarter. Covestor Ltd now owns 525 shares of the company’s stock valued at $49,000 after purchasing an additional 186 shares in the last quarter. Finally, Mather Group LLC. grew its position in Philip Morris International by 14.7% during the first quarter. Mather Group LLC. now owns 8,987 shares of the company’s stock worth $844,000 after buying an additional 1,154 shares in the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock.
Philip Morris International Stock Performance
PM stock opened at $91.63 on Tuesday. The company has a market capitalization of $142.25 billion, a price-to-earnings ratio of 17.79, a price-to-earnings-growth ratio of 2.48 and a beta of 0.63. The business’s 50 day moving average price is $93.42 and its two-hundred day moving average price is $93.67. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $103.79.
Philip Morris International Dividend Announcement
Insider Buying and Selling
In related news, insider Wilde Frederic De sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $94.25, for a total value of $942,500.00. Following the sale, the insider now owns 198,447 shares in the company, valued at approximately $18,703,629.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several research firms recently commented on PM. Redburn Atlantic began coverage on Philip Morris International in a research report on Thursday, November 16th. They set a “neutral” rating and a $95.00 target price for the company. Jefferies Financial Group lowered their target price on Philip Morris International from $111.00 to $105.00 and set a “buy” rating for the company in a research note on Friday, October 13th. JPMorgan Chase & Co. upped their price target on Philip Morris International from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, November 29th. Finally, UBS Group lowered Philip Morris International from a “buy” rating to a “sell” rating and lowered their price target for the company from $105.00 to $86.50 in a research report on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.39.
Philip Morris International Profile
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.
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