Philip Morris International Inc. (PM) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. boosted its position in Philip Morris International Inc. (NYSE:PM) by 39.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,521,973 shares of the company’s stock after purchasing an additional 716,235 shares during the period. Prudential Financial Inc. owned about 0.16% of Philip Morris International worth $205,642,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Highstreet Asset Management Inc. raised its position in shares of Philip Morris International by 31.3% in the third quarter. Highstreet Asset Management Inc. now owns 24,201 shares of the company’s stock worth $1,973,000 after buying an additional 5,770 shares in the last quarter. AGF Investments America Inc. raised its position in shares of Philip Morris International by 1.7% in the third quarter. AGF Investments America Inc. now owns 48,125 shares of the company’s stock worth $3,924,000 after buying an additional 793 shares in the last quarter. Wetherby Asset Management Inc. raised its position in shares of Philip Morris International by 4.7% in the third quarter. Wetherby Asset Management Inc. now owns 27,225 shares of the company’s stock worth $2,220,000 after buying an additional 1,233 shares in the last quarter. Brighton Jones LLC raised its position in shares of Philip Morris International by 11.5% in the third quarter. Brighton Jones LLC now owns 7,443 shares of the company’s stock worth $607,000 after buying an additional 769 shares in the last quarter. Finally, Loudon Investment Management LLC raised its position in shares of Philip Morris International by 45.8% in the third quarter. Loudon Investment Management LLC now owns 3,662 shares of the company’s stock worth $299,000 after buying an additional 1,150 shares in the last quarter. Institutional investors and hedge funds own 72.55% of the company’s stock.

A number of research analysts recently commented on the company. Piper Jaffray Companies set a $99.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Wednesday, October 10th. Citigroup increased their target price on Philip Morris International from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, September 21st. Stifel Nicolaus reduced their target price on Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research note on Friday, July 20th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Wednesday, July 25th. Finally, Societe Generale cut Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $94.73.

Shares of NYSE:PM opened at $85.83 on Friday. Philip Morris International Inc. has a 12-month low of $76.21 and a 12-month high of $111.25. The stock has a market cap of $134.31 billion, a PE ratio of 17.41, a P/E/G ratio of 1.98 and a beta of 0.58.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.28 by $0.16. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.16 billion. During the same period last year, the firm earned $1.27 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 5.01 EPS for the current fiscal year.

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Philip Morris International Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

Further Reading: How Investors Use a Balance Sheet

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

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