Philip Morris International Inc. (PM) Shares Bought by Banque Pictet & Cie SA

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Banque Pictet & Cie SA boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 22.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,893 shares of the company’s stock after buying an additional 27,687 shares during the quarter. Banque Pictet & Cie SA’s holdings in Philip Morris International were worth $12,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alerus Financial NA raised its holdings in shares of Philip Morris International by 11.3% in the 2nd quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock valued at $7,058,000 after purchasing an additional 8,897 shares in the last quarter. Sumitomo Life Insurance Co. raised its stake in shares of Philip Morris International by 6.7% during the 2nd quarter. Sumitomo Life Insurance Co. now owns 68,443 shares of the company’s stock worth $5,526,000 after acquiring an additional 4,321 shares in the last quarter. IMA Wealth Inc. bought a new position in shares of Philip Morris International during the 2nd quarter worth approximately $149,000. Arbor Wealth Management LLC raised its stake in shares of Philip Morris International by 34.0% during the 1st quarter. Arbor Wealth Management LLC now owns 51,869 shares of the company’s stock worth $4,194,000 after acquiring an additional 13,166 shares in the last quarter. Finally, Mariner LLC raised its stake in shares of Philip Morris International by 22.9% during the 1st quarter. Mariner LLC now owns 52,944 shares of the company’s stock worth $5,263,000 after acquiring an additional 9,857 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

Several research analysts recently commented on PM shares. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Jefferies Financial Group reiterated a “buy” rating and set a $93.00 price objective on shares of Philip Morris International in a research note on Friday, July 13th. Citigroup set a $90.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 20th. ValuEngine upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Finally, Societe Generale lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Hold” and a consensus target price of $103.36.

NYSE:PM opened at $79.06 on Thursday. The company has a market cap of $123.88 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.70 and a beta of 0.90. Philip Morris International Inc. has a twelve month low of $76.21 and a twelve month high of $119.43. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of -2.76.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 19th. The company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.18. The company had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.53 billion. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. Philip Morris International’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.14 EPS. equities research analysts expect that Philip Morris International Inc. will post 5.05 earnings per share for the current year.

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

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