New York Life Investment Management LLC Purchases 1,485 Shares of Philip Morris International Inc. (NYSE:PM)

New York Life Investment Management LLC grew its position in Philip Morris International Inc. (NYSE:PM) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,183 shares of the company’s stock after purchasing an additional 1,485 shares during the quarter. New York Life Investment Management LLC’s holdings in Philip Morris International were worth $21,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dearborn Partners LLC raised its stake in Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after purchasing an additional 89 shares during the last quarter. LRI Investments LLC lifted its stake in Philip Morris International by 1.5% in the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after purchasing an additional 92 shares in the last quarter. Bar Harbor Wealth Management boosted its holdings in shares of Philip Morris International by 2.6% during the 2nd quarter. Bar Harbor Wealth Management now owns 3,919 shares of the company’s stock worth $397,000 after purchasing an additional 100 shares during the last quarter. Stephens Consulting LLC grew its position in shares of Philip Morris International by 8.6% in the second quarter. Stephens Consulting LLC now owns 1,266 shares of the company’s stock valued at $128,000 after purchasing an additional 100 shares in the last quarter. Finally, KCM Investment Advisors LLC increased its holdings in shares of Philip Morris International by 2.8% in the first quarter. KCM Investment Advisors LLC now owns 3,868 shares of the company’s stock valued at $354,000 after purchasing an additional 104 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PM shares. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America raised their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus raised their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Barclays raised their price objective on shares of Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $113.70.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 transaction of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at $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 Price Performance

NYSE:PM opened at $125.81 on Friday. The firm has a market capitalization of $195.58 billion, a PE ratio of 24.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.55. The business’s fifty day moving average price is $113.87 and its 200 day moving average price is $102.23. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $127.45.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 earnings per share. As a group, equities analysts anticipate that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International 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.