Asset Planning Services Inc. LA ADV reduced its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC).
The fund owned 40,445 shares of the company’s stock after selling 600 shares during the quarter. Philip Morris International comprises about 2.3% of Asset Planning Services Inc. LA ADV’s portfolio, making the stock its 29th biggest position. Asset Planning Services Inc. LA ADV’s holdings in Philip Morris International were worth $3,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC), Fairfield Current informs.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Alerus Financial NA boosted its position in shares of Philip Morris International by 11.3% during the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock worth $7,058,000 after purchasing an additional 8,897 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in shares of Philip Morris International by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock worth $16,235,000 after purchasing an additional 20,196 shares in the last quarter. Zacks Investment Management boosted its position in shares of Philip Morris International by 7.4% during the second quarter.
Zacks Investment Management now owns 527,234 shares of the company’s stock worth $42,569,000 after purchasing an additional 36,303 shares in the last quarter. IMA Wealth Inc. bought a new position in shares of Philip Morris International during the second quarter worth $149,000. Finally, Jupiter Asset Management Ltd. boosted its position in shares of Philip Morris International by 102.3% during the second quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock worth $5,879,000 after purchasing an additional 36,816 shares in the last quarter. 72.31% of the stock is currently owned by institutional investors and hedge funds.
PM has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock in a report on Friday, August 24th. ValuEngine upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Friday, September 21st. Citigroup raised their price objective on shares of Philip Morris International from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, September 21st. Finally, Societe Generale set a $95.00 price objective on shares of Philip Morris International and gave the stock a “hold” rating in a report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $94.73.
Shares of NYSE:PM opened at $85.05 on Wednesday. Philip Morris International Inc. has a 12 month low of $76.21 and a 12 month high of $111.25. The firm has a market cap of $130.66 billion, a P/E ratio of 17.25, a P/E/G ratio of 1.93 and a beta of 0.58.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.16. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The firm had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.16 billion. During the same period in the previous year, the business earned $1.27 EPS. The company’s revenue was up .4% compared to the same quarter last year. Analysts predict that Philip Morris International Inc. will post 5.01 EPS for the current year.
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