National Bank of Canada FI Sells 127,702 Shares of Philip Morris International Inc. (NYSE:PM)

National Bank of Canada FI decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 14.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 742,824 shares of the company’s stock after selling 127,702 shares during the period. National Bank of Canada FI’s holdings in Philip Morris International were worth $75,208,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bank of Nova Scotia lifted its stake in shares of Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after buying an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Philip Morris International during the first quarter worth about $5,634,000. Axxcess Wealth Management LLC raised its stake in Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares during the period. Nebula Research & Development LLC bought a new stake in Philip Morris International during the 4th quarter valued at approximately $857,000. Finally, Pinebridge Investments L.P. boosted its stake in Philip Morris International by 99.5% in the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock worth $5,087,000 after purchasing an additional 26,960 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Bank of America increased their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Stifel Nicolaus increased their price target on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday. One equities research analyst has 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.70.

Philip Morris International Price Performance

NYSE:PM opened at $125.18 on Friday. The firm has a market capitalization of $194.60 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.41 and a beta of 0.55. The business has a 50 day simple moving average of $113.38 and a 200-day simple moving average of $101.98. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $127.45.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The company 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%. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. As a group, analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

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.