Alps Advisors Inc. Has $48.53 Million Stake in Philip Morris International Inc. (PM)

Alps Advisors Inc. lifted its position in Philip Morris International Inc. (NYSE:PM) by 30.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 601,060 shares of the company’s stock after purchasing an additional 140,473 shares during the period. Alps Advisors Inc.’s holdings in Philip Morris International were worth $48,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Life Insurance Co. increased its stake in shares of Philip Morris International by 6.7% in the second quarter. Sumitomo Life Insurance Co. now owns 68,443 shares of the company’s stock worth $5,526,000 after purchasing an additional 4,321 shares in the last quarter. IMA Wealth Inc. purchased a new position in Philip Morris International during the second quarter valued at $149,000. Arbor Wealth Management LLC grew its stake in Philip Morris International by 34.0% during the first quarter. Arbor Wealth Management LLC now owns 51,869 shares of the company’s stock valued at $4,194,000 after acquiring an additional 13,166 shares in the last quarter. Mariner LLC grew its stake in Philip Morris International by 22.9% during the first quarter. Mariner LLC now owns 52,944 shares of the company’s stock valued at $5,263,000 after acquiring an additional 9,857 shares in the last quarter. Finally, CHICAGO TRUST Co NA grew its stake in Philip Morris International by 27.7% during the second quarter. CHICAGO TRUST Co NA now owns 43,155 shares of the company’s stock valued at $3,485,000 after acquiring an additional 9,348 shares in the last quarter. 72.77% of the stock is owned by hedge funds and other institutional investors.

PM stock opened at $80.26 on Tuesday. Philip Morris International Inc. has a 52 week low of $76.21 and a 52 week high of $119.43. 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 firm has a market cap of $123.88 billion, a price-to-earnings ratio of 16.23, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 19th. The company reported $1.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.18. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The business had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the business earned $1.14 earnings per share. Philip Morris International’s quarterly revenue was up 11.7% compared to the same quarter last year. research analysts anticipate that Philip Morris International Inc. will post 5.05 EPS for the current fiscal year.

Several research firms recently weighed in on PM. Jefferies Financial Group cut shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research note on Friday. ValuEngine cut shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Stifel Nicolaus cut their target price on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Morgan Stanley cut their target price on shares of Philip Morris International from $111.00 to $102.00 and set an “overweight” rating for the company in a research note on Tuesday, July 17th. Finally, Cowen cut shares of Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 target price for the company. in a research note on Friday, July 20th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $103.36.

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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