Philip Morris International Inc. (NYSE:PM) Shares Bought by Slocum Gordon & Co LLP

Slocum Gordon & Co LLP grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 16.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,835 shares of the company’s stock after acquiring an additional 260 shares during the period. Slocum Gordon & Co LLP’s holdings in Philip Morris International were worth $186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Nova Scotia increased its stake in Philip Morris International by 283.5% during the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after acquiring an additional 876,790 shares during the last quarter. Diversify Advisory Services LLC acquired a new stake in shares of Philip Morris International in the first quarter valued at about $5,634,000. Axxcess Wealth Management LLC grew its stake in shares of Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after buying an additional 6,974 shares in the last quarter. Nebula Research & Development LLC acquired a new stake in shares of Philip Morris International in the fourth quarter valued at about $857,000. Finally, Pinebridge Investments L.P. grew its stake in shares of Philip Morris International by 99.5% in the fourth quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after buying an additional 26,960 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America increased their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays raised their price objective on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.70.

Philip Morris International Price Performance

PM opened at $125.79 on Friday. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $127.45. The stock has a market cap of $195.55 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.41 and a beta of 0.55. The stock’s 50 day moving average price is $113.38 and its 200 day moving average price is $101.98.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the firm earned $1.60 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Equities analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.