First American Trust FSB reduced its holdings in Philip Morris International Inc. (NYSE:PM – Free Report) by 33.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,061 shares of the company’s stock after selling 19,428 shares during the quarter. First American Trust FSB’s holdings in Philip Morris International were worth $6,105,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the business. Schroder Investment Management Group grew its holdings in shares of Philip Morris International by 10.2% in the 3rd quarter. Schroder Investment Management Group now owns 302,173 shares of the company’s stock worth $49,251,000 after acquiring an additional 27,979 shares during the last quarter. Trajan Wealth LLC boosted its position in shares of Philip Morris International by 31.2% in the third quarter. Trajan Wealth LLC now owns 132,295 shares of the company’s stock worth $21,458,000 after buying an additional 31,490 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Philip Morris International by 23.6% in the third quarter. Stratos Wealth Partners LTD. now owns 43,926 shares of the company’s stock worth $7,125,000 after buying an additional 8,392 shares during the period. Assetmark Inc. boosted its position in shares of Philip Morris International by 22.2% in the fourth quarter. Assetmark Inc. now owns 630,583 shares of the company’s stock worth $101,146,000 after buying an additional 114,618 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of Philip Morris International by 40.3% in the fourth quarter. Global Retirement Partners LLC now owns 67,177 shares of the company’s stock worth $10,775,000 after buying an additional 19,309 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.
Philip Morris International Trading Up 2.5%
Shares of NYSE:PM opened at $183.01 on Thursday. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $193.05. The business has a fifty day simple moving average of $171.77 and a 200 day simple moving average of $169.52. The firm has a market cap of $285.23 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 2.06 and a beta of 0.38.
Analyst Ratings Changes
Several brokerages have recently commented on PM. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 target price on shares of Philip Morris International in a research report on Thursday, April 23rd. Morgan Stanley raised their target price on Philip Morris International from $190.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Stifel Nicolaus decreased their target price on Philip Morris International from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, April 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, May 20th. Finally, Bank of America reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $192.88.
Read Our Latest Research Report on PM
Philip Morris International Profile
Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.
PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.
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