Horizon Investment Services LLC Sells 153 Shares of Philip Morris International Inc. (NYSE:PM)

Horizon Investment Services LLC cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,796 shares of the company’s stock after selling 153 shares during the quarter. Horizon Investment Services LLC’s holdings in Philip Morris International were worth $385,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bank of Nova Scotia increased its stake in Philip Morris International by 283.5% in the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after purchasing an additional 876,790 shares during the period. Diversify Advisory Services LLC bought a new stake in Philip Morris International during the 1st quarter valued at $5,634,000. Axxcess Wealth Management LLC raised its holdings 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 buying an additional 6,974 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Philip Morris International during the 4th quarter valued at $857,000. Finally, Pinebridge Investments L.P. grew its holdings in Philip Morris International by 99.5% in the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock worth $5,087,000 after acquiring an additional 26,960 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction 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 sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PM. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Barclays upped their price target on Philip Morris International from $110.00 to $130.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Stifel Nicolaus raised their price target on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday. One 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 stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $113.70.

Philip Morris International Price Performance

Shares of Philip Morris International stock 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 50-day moving average of $113.38 and a 200 day moving average of $101.98. The firm has a market cap of $194.60 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.41 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) 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 firm had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period last year, the business earned $1.60 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, 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.