Noesis Capital Mangement Corp cut its holdings in Philip Morris International Inc. (NYSE:PM) by 5.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,522 shares of the company’s stock after selling 914 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Philip Morris International were worth $1,219,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Veritas Asset Management LLP increased its stake in shares of Philip Morris International by 1.2% during the first quarter. Veritas Asset Management LLP now owns 6,548,888 shares of the company’s stock worth $578,856,000 after acquiring an additional 80,375 shares during the period. Investec Asset Management LTD increased its stake in shares of Philip Morris International by 8.0% during the second quarter. Investec Asset Management LTD now owns 4,140,204 shares of the company’s stock worth $325,130,000 after acquiring an additional 306,860 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of Philip Morris International by 10.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 3,822,629 shares of the company’s stock worth $300,191,000 after acquiring an additional 368,627 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Philip Morris International by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock worth $193,823,000 after acquiring an additional 183,239 shares during the period. Finally, Pendal Group Ltd increased its stake in shares of Philip Morris International by 31.5% during the second quarter. Pendal Group Ltd now owns 2,658,816 shares of the company’s stock worth $187,959,000 after acquiring an additional 637,613 shares during the period. Institutional investors own 74.33% of the company’s stock.

In other Philip Morris International news, VP Michael R. Kunst purchased 500 shares of Philip Morris International stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $80.74 per share, with a total value of $40,370.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

A number of research analysts have recently issued reports on PM shares. Morgan Stanley dropped their price target on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $82.00 to $100.00 in a research note on Friday, July 19th. Wells Fargo & Co set a $102.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Bank of America upgraded shares of Philip Morris International from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $81.00 to $94.00 in a research note on Friday, May 17th. Two analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $93.92.

PM stock traded up $0.26 during trading on Thursday, reaching $83.31. 117,978 shares of the company were exchanged, compared to its average volume of 4,673,309. The company has a market cap of $132.26 billion, a P/E ratio of 16.34, a PEG ratio of 2.08 and a beta of 0.96. Philip Morris International Inc. has a 52-week low of $64.67 and a 52-week high of $92.74. The stock’s 50 day moving average price is $83.45 and its 200 day moving average price is $83.67.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. Equities analysts expect that Philip Morris International Inc. will post 5.22 earnings per share for the current fiscal year.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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