Noesis Capital Mangement Corp Reduces Stake in Philip Morris International Inc (PM)
Noesis Capital Mangement Corp decreased its stake in shares of Philip Morris International Inc (NYSE:PM) by 0.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 16,908 shares of the company’s stock after selling 145 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Philip Morris International were worth $1,986,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of the company. Hourglass Capital LLC lifted its position in shares of Philip Morris International by 0.9% during the second quarter. Hourglass Capital LLC now owns 76,258 shares of the company’s stock worth $8,957,000 after purchasing an additional 650 shares in the last quarter. Wedbush Securities Inc. lifted its position in shares of Philip Morris International by 28.0% during the second quarter. Wedbush Securities Inc. now owns 18,832 shares of the company’s stock worth $2,212,000 after purchasing an additional 4,123 shares in the last quarter. Suffolk Capital Management LLC acquired a new position in shares of Philip Morris International during the second quarter worth approximately $12,928,000. LMR Partners LLP lifted its position in shares of Philip Morris International by 274.0% during the second quarter. LMR Partners LLP now owns 21,391 shares of the company’s stock worth $2,512,000 after purchasing an additional 15,671 shares in the last quarter. Finally, Birinyi Associates Inc. raised its stake in shares of Philip Morris International by 15.0% during the second quarter. Birinyi Associates Inc. now owns 27,160 shares of the company’s stock worth $3,190,000 after buying an additional 3,550 shares during the last quarter. Institutional investors own 72.63% of the company’s stock.
In related news, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on PM. Cowen reissued a “buy” rating and set a $135.00 price target on shares of Philip Morris International in a research note on Tuesday, August 22nd. Piper Jaffray Companies set a $134.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research note on Saturday, August 19th. BidaskClub raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Jefferies Group reaffirmed a “hold” rating and issued a $120.00 target price (down previously from $121.00) on shares of Philip Morris International in a research note on Thursday, August 24th. Finally, SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and increased their price objective for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $124.23.
Shares of Philip Morris International Inc (PM) traded up $0.90 during mid-day trading on Tuesday, reaching $104.61. 5,179,400 shares of the company’s stock were exchanged, compared to its average volume of 4,121,231. The firm has a market capitalization of $161,082.67, a PE ratio of 23.10, a P/E/G ratio of 2.10 and a beta of 0.90. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. Philip Morris International Inc has a 12-month low of $87.57 and a 12-month high of $123.55.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The company had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. Philip Morris International’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. research analysts expect that Philip Morris International Inc will post 4.75 EPS for the current fiscal year.
Philip Morris International Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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