LLBH Private Wealth Management LLC Invests $129,000 in Philip Morris International Inc. (NYSE:PM)

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LLBH Private Wealth Management LLC bought a new position in shares of Philip Morris International Inc. (NYSE:PM) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 18,038 shares of the company’s stock, valued at approximately $129,000.

Several other hedge funds have also recently added to or reduced their stakes in PM. Manchester Financial Inc. acquired a new stake in shares of Philip Morris International during the second quarter worth $36,000. Brand Asset Management Group Inc. grew its stake in Philip Morris International by 34.9% in the second quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock valued at $37,000 after acquiring an additional 122 shares during the period. Shamrock Asset Management LLC grew its stake in Philip Morris International by 53.9% in the first quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after acquiring an additional 200 shares during the period. HMS Capital Management LLC acquired a new position in Philip Morris International in the second quarter valued at about $46,000. Finally, MCF Advisors LLC grew its stake in Philip Morris International by 26.7% in the second quarter. MCF Advisors LLC now owns 603 shares of the company’s stock valued at $47,000 after acquiring an additional 127 shares during the period. Institutional investors own 74.33% of the company’s stock.

In related news, VP Michael R. Kunst bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $80.74 per share, for a total transaction of $40,370.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mario Masseroli sold 1,100 shares of the company’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 disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

A number of research analysts have issued reports on PM shares. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research report 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 for the company in a research report on Friday, July 12th. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $81.00 to $94.00 in a research report on Friday, May 17th. Finally, Wells Fargo & Co set a $102.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $93.92.

Shares of PM stock traded down $5.74 on Tuesday, hitting $71.99. 29,650,925 shares of the stock were exchanged, compared to its average volume of 4,611,977. The firm has a market capitalization of $126.37 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.98 and a beta of 0.96. The business has a 50-day moving average of $83.56 and a 200 day moving average of $83.81. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.42 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. Philip Morris International’s revenue was down .3% on a year-over-year basis. As a group, equities research analysts expect that Philip Morris International Inc. will post 5.22 earnings per share for the current fiscal year.

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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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