Spectrum Management Group Inc. Sells 215 Shares of Philip Morris International Inc. (NYSE:PM)

Spectrum Management Group Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 15.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 1,170 shares of the company’s stock after selling 215 shares during the quarter. Spectrum Management Group Inc.’s holdings in Philip Morris International were worth $92,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PM. Duff & Phelps Investment Management Co. raised its position in shares of Philip Morris International by 3.5% in the second quarter. Duff & Phelps Investment Management Co. now owns 17,015 shares of the company’s stock valued at $1,336,000 after purchasing an additional 570 shares during the period. BHK Investment Advisors LLC raised its position in shares of Philip Morris International by 3.6% in the second quarter. BHK Investment Advisors LLC now owns 4,282 shares of the company’s stock valued at $336,000 after purchasing an additional 150 shares during the period. Employers Holdings Inc. acquired a new position in shares of Philip Morris International in the second quarter valued at about $2,015,000. Tarbox Family Office Inc. grew its stake in shares of Philip Morris International by 2.8% in the second quarter. Tarbox Family Office Inc. now owns 4,996 shares of the company’s stock valued at $392,000 after acquiring an additional 134 shares in the last quarter. Finally, Icon Advisers Inc. Co. grew its stake in shares of Philip Morris International by 1.3% in the second quarter. Icon Advisers Inc. Co. now owns 24,200 shares of the company’s stock valued at $1,900,000 after acquiring an additional 300 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms recently commented on PM. Morgan Stanley decreased 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. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Bank of America upgraded shares of Philip Morris International from an “underperform” rating to a “neutral” rating and upped their price target for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Finally, Barclays upgraded shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $82.00 to $100.00 in a research note on Friday, July 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $93.92.

Philip Morris International stock traded up $0.48 during trading hours on Friday, reaching $84.97. 1,954,672 shares of the stock were exchanged, compared to its average volume of 5,284,436. The company has a market cap of $132.12 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 2.05 and a beta of 0.96. Philip Morris International Inc. has a twelve month low of $64.67 and a twelve month high of $92.74. The stock has a 50 day moving average of $82.74 and a two-hundred day moving average of $83.57.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (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 business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. On average, sell-side analysts predict that Philip Morris International Inc. will post 5.21 earnings per share for the current year.

In other news, VP Michael R. Kunst acquired 500 shares of Philip Morris International stock in a transaction on Wednesday, May 29th. The shares were purchased at an average cost of $80.74 per share, for a total transaction of $40,370.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mario Masseroli sold 1,100 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was 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. Corporate insiders own 0.21% of the company’s stock.

Philip Morris International Profile

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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