Cullinan Associates Inc. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 14.7% in the fourth quarter, Holdings Channel reports. The fund owned 55,541 shares of the company’s stock after selling 9,555 shares during the quarter. Cullinan Associates Inc.’s holdings in Philip Morris International were worth $5,868,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Philip Morris International by 1.4% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 5,574,846 shares of the company’s stock worth $588,983,000 after purchasing an additional 76,758 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Philip Morris International by 3.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 18,924 shares of the company’s stock worth $1,999,000 after purchasing an additional 702 shares during the period. Coastline Trust Co grew its holdings in shares of Philip Morris International by 44.6% during the 4th quarter. Coastline Trust Co now owns 16,300 shares of the company’s stock worth $1,722,000 after purchasing an additional 5,025 shares during the period. Koshinski Asset Management Inc. grew its holdings in shares of Philip Morris International by 27.8% during the 4th quarter. Koshinski Asset Management Inc. now owns 3,594 shares of the company’s stock worth $380,000 after purchasing an additional 782 shares during the period. Finally, First National Trust Co grew its holdings in shares of Philip Morris International by 56.7% during the 4th quarter. First National Trust Co now owns 42,055 shares of the company’s stock worth $4,444,000 after purchasing an additional 15,220 shares during the period. 72.31% of the stock is owned by institutional investors.
PM has been the subject of a number of research reports. Piper Jaffray Companies set a $130.00 target price on Philip Morris International and gave the stock a “buy” rating in a report on Thursday, November 16th. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Morgan Stanley upped their price target on Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a report on Tuesday, January 30th. Finally, Bank of America decreased their price target on Philip Morris International from $124.00 to $121.00 and set a “neutral” rating for the company in a report on Friday, October 20th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $123.79.
Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.04). The company had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.17 billion. Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The firm’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. equities analysts forecast that Philip Morris International Inc. will post 5.28 earnings per share for the current year.
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About Philip Morris International
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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