Concert Wealth Management Inc. reduced its holdings in Philip Morris International Inc (NYSE:PM) by 75.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,225 shares of the company’s stock after selling 6,974 shares during the period. Concert Wealth Management Inc.’s holdings in Philip Morris International were worth $261,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in PM. Guidant Wealth Advisors lifted its stake in Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after acquiring an additional 191 shares in the last quarter. American Beacon Advisors Inc. purchased a new stake in Philip Morris International in the 1st quarter worth about $114,000. Vantage Investment Advisors LLC lifted its stake in Philip Morris International by 1.0% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after acquiring an additional 10 shares in the last quarter. Acropolis Investment Management LLC lifted its stake in Philip Morris International by 0.5% in the 2nd quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares in the last quarter. Finally, BDO Wealth Advisors LLC purchased a new stake in Philip Morris International in the 2nd quarter worth about $178,000. 72.63% of the stock is owned by hedge funds and other institutional investors.
Shares of Philip Morris International Inc (NYSE PM) traded up $1.60 during midday trading on Wednesday, hitting $107.06. The stock had a trading volume of 1,388,840 shares, compared to its average volume of 4,124,628. The company has a debt-to-equity ratio of -2.91, a quick ratio of 0.68 and a current ratio of 1.13. The firm has a market cap of $162,480.55, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 2.11 and a beta of 0.90. Philip Morris International Inc has a fifty-two week low of $87.67 and a fifty-two week high of $123.55.
Several brokerages have weighed in on PM. Zacks Investment Research lowered Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Piper Jaffray Companies set a $134.00 target price on Philip Morris International and gave the stock a “buy” rating in a research report on Saturday, August 19th. Goldman Sachs Group raised Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 target price on the stock in a research report on Thursday, September 28th. SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and upped their target price for the stock from $118.00 to $119.00 in a research report on Friday, August 11th. Finally, BidaskClub raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $124.23.
In other news, Chairman Louis C. Camilleri sold 108,979 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.23% of the company’s stock.
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Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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