Oakworth Capital Inc. Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

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Oakworth Capital Inc. grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 11.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,915 shares of the company’s stock after buying an additional 627 shares during the period. Oakworth Capital Inc.’s holdings in Philip Morris International were worth $465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Cornerstone Wealth Management LLC increased its stake in Philip Morris International by 8.8% in the second quarter. Cornerstone Wealth Management LLC now owns 14,539 shares of the company’s stock valued at $1,142,000 after acquiring an additional 1,173 shares during the last quarter. Chicago Equity Partners LLC increased its stake in Philip Morris International by 77.7% in the second quarter. Chicago Equity Partners LLC now owns 11,390 shares of the company’s stock valued at $894,000 after acquiring an additional 4,980 shares during the last quarter. Capital City Trust Co. FL increased its stake in Philip Morris International by 1.1% in the second quarter. Capital City Trust Co. FL now owns 11,041 shares of the company’s stock valued at $867,000 after acquiring an additional 125 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Philip Morris International by 6.7% in the second quarter. Jones Financial Companies Lllp now owns 55,224 shares of the company’s stock valued at $4,337,000 after acquiring an additional 3,453 shares during the last quarter. Finally, Whitener Capital Management Inc. increased its stake in Philip Morris International by 2.0% in the second quarter. Whitener Capital Management Inc. now owns 10,224 shares of the company’s stock valued at $802,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Shares of NYSE:PM traded up $0.42 on Friday, reaching $84.91. 3,257,800 shares of the company traded hands, compared to its average volume of 4,999,183. The business’s 50-day simple moving average is $82.88 and its 200 day simple moving average is $83.58. Philip Morris International Inc. has a 52 week low of $64.67 and a 52 week high of $92.74. The stock has a market capitalization of $131.45 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96.

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, beating the Zacks’ consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.42 billion. During the same period last year, the firm earned $1.41 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts expect that Philip Morris International Inc. will post 5.21 earnings per share for the current fiscal year.

A number of research firms recently commented on PM. ValuEngine cut Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and increased their target price for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Morgan Stanley reduced their price objective on 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. Finally, Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $93.92.

In related news, insider Mario Masseroli sold 1,100 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Michael R. Kunst bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was acquired at an average cost of $80.74 per share, for a total transaction of $40,370.00. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.

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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