Texas Permanent School Fund decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission.
The firm owned 348,968 shares of the company’s stock after selling 30,362 shares during the period. Texas Permanent School Fund’s holdings in Philip Morris International were worth $28,455,000 as of its most recent SEC filing, Fairfield Current informed.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 4.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 34,065,506 shares of the company’s stock worth $2,750,449,000 after purchasing an additional 1,421,021 shares in the last quarter.
Morgan Stanley raised its holdings in shares of Philip Morris International by 23.9% in the second quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock worth $1,835,871,000 after acquiring an additional 4,386,487 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Philip Morris International by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 17,570,730 shares of the company’s stock worth $1,418,660,000 after acquiring an additional 258,809 shares during the last quarter.
Flossbach Von Storch AG raised its holdings in shares of Philip Morris International by 48.1% in the second quarter. Flossbach Von Storch AG now owns 14,212,696 shares of the company’s stock worth $1,147,533,000 after acquiring an additional 4,618,289 shares during the last quarter. Finally, Fundsmith Equity Fund L.P. acquired a new position in shares of Philip Morris International in the second quarter worth $845,763,000. 72.55% of the stock is currently owned by institutional investors.
Shares of PM opened at $86.40 on Wednesday. The stock has a market capitalization of $138.63 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58. Philip Morris International Inc. has a one year low of $76.21 and a one year high of $111.25.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.16. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%.
The firm had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.16 billion. During the same quarter in the prior year, the business posted $1.27 earnings per share. Philip Morris International’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities analysts forecast that Philip Morris International Inc. will post 5.01 EPS for the current fiscal year.
Several equities analysts recently commented on the company. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Societe Generale set a $95.00 target price on Philip Morris International and gave the company a “hold” rating in a research note on Monday, October 22nd.
Citigroup upped their target price on Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, October 19th. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, October 18th. Finally, Sanford C. Bernstein assumed coverage on Philip Morris International in a research note on Tuesday, October 16th. They set an “outperform” rating and a $97.00 price target for the company.
One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $98.08.
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