Noesis Capital Mangement Corp decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,522 shares of the company’s stock after selling 914 shares during the period. Noesis Capital Mangement Corp’s holdings in Philip Morris International were worth $1,219,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the business. Manchester Financial Inc. acquired a new stake in shares of Philip Morris International during the 2nd quarter worth approximately $36,000. Brand Asset Management Group Inc. increased its holdings in shares of Philip Morris International by 34.9% during the 2nd 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 last quarter. HMS Capital Management LLC acquired a new stake in shares of Philip Morris International during the 2nd quarter worth approximately $46,000. Next Capital Management LLC increased its holdings in shares of Philip Morris International by 107.4% during the 2nd quarter. Next Capital Management LLC now owns 620 shares of the company’s stock worth $49,000 after buying an additional 321 shares during the last quarter. Finally, Shamrock Asset Management LLC increased its holdings in Philip Morris International by 53.9% in the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 74.33% of the company’s stock.
Philip Morris International stock traded up $0.26 during trading on Thursday, hitting $83.31. The company had a trading volume of 117,978 shares, compared to its average volume of 4,673,309. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $92.74. The company’s 50 day simple moving average is $83.45 and its 200-day simple moving average is $83.67. The stock has a market cap of $132.26 billion, a price-to-earnings ratio of 16.34, a price-to-earnings-growth ratio of 2.08 and a beta of 0.96.
In other Philip Morris International news, VP Michael R. Kunst purchased 500 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was bought at an average price of $80.74 per share, with a total value of $40,370.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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. Company insiders own 0.21% of the company’s stock.
PM has been the subject of several research reports. Bank of America upgraded shares of Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $81.00 to $94.00 in a report on Friday, May 17th. Wells Fargo & Co set a $102.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a report on Friday, July 19th. ValuEngine downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Morgan Stanley dropped their target price on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Two 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 currently has a consensus rating of “Hold” and an average target price of $93.92.
Philip Morris International Company Profile
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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