Synergy Asset Management LLC Trims Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Synergy Asset Management LLC decreased its position in Philip Morris International Inc. (NYSE:PM) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,701 shares of the company’s stock after selling 668 shares during the period. Synergy Asset Management LLC’s holdings in Philip Morris International were worth $5,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GQG Partners LLC grew its position in Philip Morris International by 5,006.0% during the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock worth $545,908,000 after purchasing an additional 5,841,696 shares during the period. Capital Research Global Investors grew its position in Philip Morris International by 9.1% during the 4th quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock worth $5,495,794,000 after purchasing an additional 4,869,272 shares during the period. Lone Pine Capital LLC acquired a new stake in Philip Morris International during the 4th quarter worth about $282,785,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Philip Morris International by 25.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock worth $996,104,000 after purchasing an additional 2,123,311 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Philip Morris International by 5,045.1% during the 1st quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock valued at $194,484,000 after acquiring an additional 2,081,472 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.9 %

Philip Morris International stock traded up $1.14 during trading on Friday, hitting $126.32. The company had a trading volume of 354,183 shares, compared to its average volume of 5,270,818. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $127.45. The company’s 50 day simple moving average is $113.38 and its 200-day simple moving average is $101.98. The stock has a market cap of $196.37 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 2.41 and a beta of 0.55.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.70.

Insiders Place Their Bets

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

About Philip Morris International

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.