People s United Financial Inc. Cuts Holdings in Philip Morris International Inc. (PM)

People s United Financial Inc. trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 27.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 45,173 shares of the company’s stock after selling 17,058 shares during the period. People s United Financial Inc.’s holdings in Philip Morris International were worth $3,683,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Shine Investment Advisory Services Inc. boosted its position in shares of Philip Morris International by 90.7% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after purchasing an additional 592 shares in the last quarter. Landaas & Co. WI ADV bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $108,000. Westbourne Investment Advisors Inc. bought a new stake in shares of Philip Morris International in the 3rd quarter worth approximately $148,000. Finally, IMA Wealth Inc. bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $149,000. 73.32% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently issued reports on PM. Piper Jaffray Companies set a $110.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Societe Generale set a $95.00 price objective on Philip Morris International and gave the company a “hold” rating in a research report on Monday, October 22nd. Citigroup upped their price objective on Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 19th. Finally, ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $95.73.

Shares of PM opened at $85.45 on Thursday. The firm has a market cap of $132.80 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.96 and a beta of 0.60. Philip Morris International Inc. has a 1-year low of $76.21 and a 1-year high of $111.25.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.16. The business had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.27 EPS. As a group, equities research analysts predict that Philip Morris International Inc. will post 5.01 earnings per share for the current year.

In other Philip Morris International news, Director Louis C. Camilleri sold 59,495 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $86.98, for a total transaction of $5,174,875.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by insiders.

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About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

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

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