Fosun International Ltd Sells 1,690 Shares of Philip Morris International Inc. (NYSE:PM)

Fosun International Ltd lowered its position in Philip Morris International Inc. (NYSE:PM) by 5.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,310 shares of the company’s stock after selling 1,690 shares during the period. Fosun International Ltd’s holdings in Philip Morris International were worth $1,981,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Solstein Capital LLC bought a new position in Philip Morris International during the 4th quarter valued at approximately $28,000. Howard Wealth Management LLC bought a new position in Philip Morris International during the 4th quarter valued at approximately $43,000. CBIZ Investment Advisory Services LLC bought a new position in Philip Morris International during the 4th quarter valued at approximately $48,000. Key Financial Inc bought a new position in Philip Morris International during the 1st quarter valued at approximately $41,000. Finally, S.A. Mason LLC bought a new position in Philip Morris International during the 4th quarter valued at approximately $49,000. 74.02% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the company. Panmure Gordon raised Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Friday, April 3rd. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 target price on the stock. in a research note on Wednesday, May 13th. UBS Group increased their target price on Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Cowen upgraded Philip Morris International from a “market perform” rating to an “outperform” rating and increased their target price for the company from $90.00 to $102.00 in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $91.14.

Shares of PM stock traded down $0.40 on Friday, reaching $70.10. The stock had a trading volume of 139,802 shares, compared to its average volume of 5,256,174. The stock has a market cap of $109.68 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79. Philip Morris International Inc. has a 1 year low of $56.01 and a 1 year high of $90.17. The company has a 50 day simple moving average of $73.17 and a 200 day simple moving average of $80.79.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, April 21st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.08. The firm had revenue of $7.15 billion for the quarter, compared to the consensus estimate of $6.87 billion. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period last year, the business posted $1.09 EPS. As a group, sell-side analysts predict that Philip Morris International Inc. will post 4.95 EPS for the current year.

In other news, insider Marc S. Firestone sold 22,000 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Philip Morris International 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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