Dorsey & Whitney Trust CO LLC Sells 3,646 Shares of Philip Morris International Inc. (NYSE:PM)

Dorsey & Whitney Trust CO LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 34.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,949 shares of the company’s stock after selling 3,646 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Philip Morris International were worth $704,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PM. Longfellow Investment Management Co. LLC lifted its position in Philip Morris International by 0.7% during the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after purchasing an additional 88 shares during the period. Liberty Wealth Management LLC lifted its holdings in shares of Philip Morris International by 266.6% during the 2nd quarter. Liberty Wealth Management LLC now owns 9,481 shares of the company’s stock worth $961,000 after acquiring an additional 6,895 shares during the period. Choreo LLC boosted its position in shares of Philip Morris International by 127.2% during the 2nd quarter. Choreo LLC now owns 50,356 shares of the company’s stock worth $5,099,000 after acquiring an additional 28,190 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of Philip Morris International by 23.3% during the 2nd quarter. Wedbush Securities Inc. now owns 15,547 shares of the company’s stock worth $1,575,000 after acquiring an additional 2,937 shares in the last quarter. Finally, McBroom & Associates LLC increased its stake in Philip Morris International by 11.9% in the second quarter. McBroom & Associates LLC now owns 5,166 shares of the company’s stock valued at $523,000 after acquiring an additional 548 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of research analyst reports. UBS Group raised their target price on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday. Stifel Nicolaus raised their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Barclays boosted their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday. Bank of America raised their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average price target of $117.05.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Philip Morris International Stock Down 1.2 %

NYSE PM opened at $125.26 on Thursday. The company has a market capitalization of $194.72 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $128.22. The stock has a fifty day simple moving average of $115.38 and a 200 day simple moving average of $103.06.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Research analysts expect that Philip Morris International Inc. will post 6.47 earnings per share for the current fiscal year.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.