Icon Advisers Inc. Co. Boosts Holdings in Philip Morris International Inc. (NYSE:PM)

Icon Advisers Inc. Co. increased its holdings in Philip Morris International Inc. (NYSE:PM) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,200 shares of the company’s stock after purchasing an additional 300 shares during the period. Icon Advisers Inc. Co.’s holdings in Philip Morris International were worth $1,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PM. Dimensional Fund Advisors LP raised its holdings in Philip Morris International by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock worth $193,823,000 after purchasing an additional 183,239 shares during the period. Legacy Advisors LLC lifted its position in Philip Morris International by 12.4% during the first quarter. Legacy Advisors LLC now owns 3,526 shares of the company’s stock valued at $312,000 after buying an additional 388 shares during the period. Forte Capital LLC ADV lifted its position in Philip Morris International by 7.4% during the first quarter. Forte Capital LLC ADV now owns 11,711 shares of the company’s stock valued at $1,035,000 after buying an additional 811 shares during the period. Rockland Trust Co. lifted its position in Philip Morris International by 2.7% during the first quarter. Rockland Trust Co. now owns 24,830 shares of the company’s stock valued at $2,195,000 after buying an additional 660 shares during the period. Finally, Hennessy Advisors Inc. lifted its position in Philip Morris International by 20.0% during the first quarter. Hennessy Advisors Inc. now owns 62,900 shares of the company’s stock valued at $5,560,000 after buying an additional 10,500 shares during the period. 73.70% of the stock is currently owned by institutional investors.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael R. Kunst bought 500 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost of $80.74 per share, with a total value of $40,370.00. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

Shares of PM traded up $0.42 during trading hours on Friday, hitting $84.91. The company had a trading volume of 3,257,800 shares, compared to its average volume of 5,470,064. The firm has a fifty day moving average price of $82.88 and a 200-day moving average price of $83.58. The stock has a market capitalization of $129.65 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 2.04 and a beta of 0.96. Philip Morris International Inc. has a 52-week low of $64.67 and a 52-week high of $92.74.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.13. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. Philip Morris International’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. On average, sell-side analysts predict that Philip Morris International Inc. will post 5.21 EPS for the current year.

PM has been the subject of several recent research reports. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $82.00 to $100.00 in a research report on Friday, July 19th. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Wells Fargo & Co set a $102.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $81.00 to $94.00 in a research report on Friday, May 17th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $93.92.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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

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