Columbia Asset Management Sells 100 Shares of Philip Morris International Inc. (NYSE:PM)

Columbia Asset Management trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the company’s stock after selling 100 shares during the quarter. Columbia Asset Management’s holdings in Philip Morris International were worth $608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of PM. Bank of Nova Scotia increased its stake in Philip Morris International by 283.5% during the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after purchasing an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Philip Morris International during the 1st quarter valued at about $5,634,000. Axxcess Wealth Management LLC increased its stake in Philip Morris International by 25.4% during the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Nebula Research & Development LLC bought a new stake in Philip Morris International during the 4th quarter valued at about $857,000. Finally, Pinebridge Investments L.P. increased its stake in Philip Morris International by 99.5% during the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after purchasing an additional 26,960 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PM has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Barclays raised their price target on shares of Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. 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 report on Wednesday. Stifel Nicolaus raised their price target on shares of Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a 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 company. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.70.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $125.18 on Friday. Philip Morris International Inc. has a 1-year low of $87.23 and a 1-year high of $127.45. The company has a market capitalization of $194.60 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.41 and a beta of 0.55. The firm’s 50 day simple moving average is $113.38 and its two-hundred day simple moving average is $101.98.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, July 25th. The shares were 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 of the company’s stock, valued at $17,906,095.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, 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.

About Philip Morris International

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.