Twin Capital Management Inc. Reduces Position in Philip Morris International Inc. (NYSE:PM)

Twin Capital Management Inc. decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 40.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,767 shares of the company’s stock after selling 45,143 shares during the quarter. Twin Capital Management Inc.’s holdings in Philip Morris International were worth $5,243,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PM. Manchester Financial Inc. purchased a new position in Philip Morris International during the second quarter worth about $36,000. Brand Asset Management Group Inc. boosted its stake in Philip Morris International by 34.9% during the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after buying an additional 122 shares during the period. CX Institutional boosted its stake in Philip Morris International by 432.1% during the first quarter. CX Institutional now owns 447 shares of the company’s stock worth $40,000 after buying an additional 363 shares during the period. HMS Capital Management LLC purchased a new position in Philip Morris International during the second quarter worth about $46,000. Finally, Shamrock Asset Management LLC boosted its stake in Philip Morris International by 53.9% during the first quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock worth $50,000 after buying an additional 200 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently issued reports on PM shares. Morgan Stanley reduced 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 report on Friday, July 12th. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Bank of America raised shares of Philip Morris International from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $81.00 to $94.00 in a research report on Friday, May 17th. Wells Fargo & Co set a $102.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $93.92.

In other news, VP Michael R. Kunst bought 1,000 shares of Philip Morris International stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average price of $79.66 per share, with a total value of $79,660.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mario Masseroli sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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. 0.21% of the stock is owned by company insiders.

Shares of PM traded up $1.04 during mid-day trading on Thursday, hitting $84.37. 136,113 shares of the company’s stock were exchanged, compared to its average volume of 5,210,903. The company has a market capitalization of $128.19 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74. The company has a 50-day moving average of $82.61.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. Research analysts predict that Philip Morris International Inc. will post 5.21 EPS for the current fiscal year.

About Philip Morris International

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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