Montag A & Associates Inc. boosted its holdings in shares of Philip Morris International (NYSE:PM) by 16.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,557 shares of the company’s stock after buying an additional 2,562 shares during the quarter. Montag A & Associates Inc.’s holdings in Philip Morris International were worth $1,845,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in PM. ING Groep NV lifted its holdings in Philip Morris International by 3.8% during the 3rd quarter. ING Groep NV now owns 73,611 shares of the company’s stock worth $8,172,000 after buying an additional 2,696 shares in the last quarter. Norinchukin Bank The lifted its holdings in Philip Morris International by 2.3% during the 3rd quarter. Norinchukin Bank The now owns 197,234 shares of the company’s stock worth $21,895,000 after buying an additional 4,446 shares in the last quarter. Bronfman E.L. Rothschild L.P. lifted its holdings in Philip Morris International by 3.8% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 18,588 shares of the company’s stock worth $2,064,000 after buying an additional 676 shares in the last quarter. Private Advisory Group LLC acquired a new stake in Philip Morris International during the 3rd quarter worth approximately $279,000. Finally, Monroe Bank & Trust MI lifted its holdings in Philip Morris International by 26.8% during the 3rd quarter. Monroe Bank & Trust MI now owns 14,503 shares of the company’s stock worth $1,327,000 after buying an additional 3,066 shares in the last quarter. Institutional investors own 72.70% of the company’s stock.
Shares of PM opened at $81.04 on Friday. Philip Morris International has a twelve month low of $80.23 and a twelve month high of $81.33. The firm has a market capitalization of $125.74 billion, a PE ratio of 17.14, a PEG ratio of 1.59 and a beta of 0.88. The company has a current ratio of 1.16, a quick ratio of 0.68 and a debt-to-equity ratio of -2.82.
PM has been the topic of a number of research reports. Goldman Sachs lowered shares of Philip Morris International from a “conviction-buy” rating to a “buy” rating in a report on Friday, April 20th. Stifel Nicolaus reduced their price objective on shares of Philip Morris International from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, April 20th. Cowen restated a “buy” rating and issued a $105.00 price objective on shares of Philip Morris International in a report on Friday, April 20th. Piper Jaffray restated a “buy” rating and issued a $126.00 price objective on shares of Philip Morris International in a report on Thursday, February 8th. Finally, Jefferies Group upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a report on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $116.86.
In related news, Director Jennifer Li bought 40,000 shares of the company’s stock in a transaction that occurred on Monday, May 14th. The shares were purchased at an average cost of $81.30 per share, with a total value of $3,252,000.00. Following the transaction, the director now directly owns 47,323 shares of the company’s stock, valued at approximately $3,847,359.90. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Marc S. Firestone sold 13,650 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total transaction of $1,428,199.50. Following the completion of the transaction, the insider now directly owns 189,199 shares in the company, valued at $19,795,891.37. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 49,000 shares of company stock worth $3,989,640 and sold 162,650 shares worth $14,713,540. Company insiders own 0.22% of the company’s stock.
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.
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