Wellington Shields & Co. LLC cut its stake in Philip Morris International Inc. (NYSE:PM) by 47.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,400 shares of the company’s stock after selling 15,000 shares during the quarter. Wellington Shields & Co. LLC’s holdings in Philip Morris International were worth $1,337,000 at the end of the most recent quarter, Marea Informativa informed.
Other large investors also recently added to or reduced their stakes in the company. Wellington Shields Capital Management LLC grew its stake in shares of Philip Morris International by 103.8% during the third quarter.
Wellington Shields Capital Management LLC now owns 17,377 shares of the company’s stock valued at $1,417,000 after acquiring an additional 8,850 shares in the last quarter. Heritage Investors Management Corp grew its stake in shares of Philip Morris International by 2.2% during the third quarter.
Heritage Investors Management Corp now owns 147,451 shares of the company’s stock valued at $12,023,000 after acquiring an additional 3,127 shares in the last quarter. Fort Pitt Capital Group LLC grew its stake in shares of Philip Morris International by 16.8% during the third quarter. Fort Pitt Capital Group LLC now owns 11,930 shares of the company’s stock valued at $973,000 after acquiring an additional 1,712 shares in the last quarter.
Skandinaviska Enskilda Banken AB publ grew its stake in shares of Philip Morris International by 5.9% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 68,444 shares of the company’s stock valued at $5,581,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Dupont Capital Management Corp grew its stake in shares of Philip Morris International by 36.8% during the third quarter. Dupont Capital Management Corp now owns 52,467 shares of the company’s stock valued at $4,278,000 after acquiring an additional 14,118 shares in the last quarter. 72.31% of the stock is currently owned by institutional investors.
Shares of NYSE:PM opened at $83.84 on Tuesday. Philip Morris International Inc. has a 12 month low of $76.21 and a 12 month high of $111.25. The company has a market cap of $130.66 billion, a P/E ratio of 17.01, a PEG ratio of 1.93 and a beta of 0.58.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.16. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.16 billion.
Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 earnings per share. On average, analysts expect that Philip Morris International Inc. will post 5.01 EPS for the current year.
Several analysts have recently weighed in 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 price target on Philip Morris International and gave the stock a “hold” rating in a research note on Monday, October 22nd. Citigroup lifted their price target on Philip Morris International from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 19th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, October 18th.
Finally, Sanford C. Bernstein assumed coverage on shares of Philip Morris International in a report on Tuesday, October 16th. They issued an “outperform” rating and a $97.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Hold” and a consensus target price of $94.73.
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