Doliver Capital Advisors LP increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 30.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 42,247 shares of the company’s stock after acquiring an additional 9,919 shares during the period. Philip Morris International comprises about 1.4% of Doliver Capital Advisors LP’s portfolio, making the stock its 5th biggest position. Doliver Capital Advisors LP’s holdings in Philip Morris International were worth $2,820,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of PM. Capital International Investors grew its position in Philip Morris International by 325.0% during the 3rd quarter. Capital International Investors now owns 33,897,955 shares of the company’s stock worth $2,764,039,000 after acquiring an additional 25,922,397 shares during the last quarter. Bank of New York Mellon Corp grew its position in Philip Morris International by 266,796.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 16,985,289 shares of the company’s stock worth $1,384,981,000 after acquiring an additional 16,978,925 shares during the last quarter. Capital Research Global Investors grew its position in Philip Morris International by 11.0% during the 3rd quarter. Capital Research Global Investors now owns 46,383,194 shares of the company’s stock worth $3,782,086,000 after acquiring an additional 4,613,349 shares during the last quarter. First Eagle Investment Management LLC grew its position in Philip Morris International by 38.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 7,764,248 shares of the company’s stock worth $633,097,000 after acquiring an additional 2,142,405 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in Philip Morris International by 53.0% during the 3rd quarter. Schroder Investment Management Group now owns 5,916,842 shares of the company’s stock worth $482,460,000 after acquiring an additional 2,048,754 shares during the last quarter. Institutional investors and hedge funds own 73.17% of the company’s stock.
In related news, Director Louis C. Camilleri sold 59,495 shares of the company’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $86.98, for a total transaction of $5,174,875.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.22% of the stock is owned by corporate insiders.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, February 7th. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.16 by $0.09. Philip Morris International had a negative return on equity of 76.82% and a net margin of 9.90%. The company had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.46 billion. During the same quarter in the prior year, the company earned $1.32 EPS. The firm’s revenue for the quarter was down 9.6% compared to the same quarter last year. On average, equities research analysts expect that Philip Morris International Inc. will post 5.38 earnings per share for the current fiscal year.
A number of equities research analysts have commented on the company. Credit Suisse Group lowered Philip Morris International from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $92.00 to $74.00 in a research report on Tuesday, December 18th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $110.00 price target (down previously from $111.25) on shares of Philip Morris International in a research report on Friday, December 28th. Societe Generale set a $95.00 price target on Philip Morris International and gave the company a “hold” rating in a research report on Monday, October 22nd. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Finally, Morgan Stanley reduced their price target on Philip Morris International from $102.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 8th. Three analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $91.25.
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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