Nicholas Hoffman & Company LLC. Sells 3,055 Shares of Philip Morris International Inc. (PM)

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Nicholas Hoffman & Company LLC. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 12.1% during the second quarter, HoldingsChannel.com reports. The firm owned 22,108 shares of the company’s stock after selling 3,055 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Philip Morris International were worth $1,785,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its position in shares of Philip Morris International by 4.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 34,065,506 shares of the company’s stock worth $2,750,449,000 after buying an additional 1,421,021 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Philip Morris International by 1.5% during the second quarter. Bank of New York Mellon Corp now owns 17,570,730 shares of the company’s stock worth $1,418,660,000 after buying an additional 258,809 shares in the last quarter. Gardner Russo & Gardner LLC grew its position in shares of Philip Morris International by 2.3% during the first quarter. Gardner Russo & Gardner LLC now owns 10,380,319 shares of the company’s stock worth $1,031,804,000 after buying an additional 237,310 shares in the last quarter. Flossbach Von Storch AG grew its position in shares of Philip Morris International by 45.1% during the first quarter. Flossbach Von Storch AG now owns 9,594,407 shares of the company’s stock worth $953,684,000 after buying an additional 2,982,085 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Philip Morris International by 4.5% during the first quarter. Wells Fargo & Company MN now owns 9,006,584 shares of the company’s stock worth $895,253,000 after buying an additional 389,848 shares in the last quarter. Institutional investors own 73.05% of the company’s stock.

Shares of PM opened at $84.58 on Tuesday. The company has a debt-to-equity ratio of -2.76, a current ratio of 1.15 and a quick ratio of 0.64. The company has a market capitalization of $132.21 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 1.82 and a beta of 0.90. Philip Morris International Inc. has a 52-week low of $76.21 and a 52-week high of $119.43.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.18. The firm had revenue of $7.73 billion during the quarter, compared to the consensus estimate of $7.53 billion. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.14 earnings per share. sell-side analysts predict that Philip Morris International Inc. will post 5.06 EPS for the current fiscal year.

A number of equities analysts have recently commented on the company. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. Societe Generale downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Deutsche Bank set a $100.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research report on Tuesday, April 24th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research report on Wednesday, July 25th. Finally, JPMorgan Chase & Co. downgraded Philip Morris International from an “overweight” rating to a “neutral” rating in a research report on Friday, July 20th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $104.55.

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.

Read More: Average Daily Trade Volume – What It Means In Stock Trading

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

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