Philip Morris International Inc. (PM) Stake Decreased by People s United Financial Inc.

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People s United Financial Inc. trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 27.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 45,173 shares of the company’s stock after selling 17,058 shares during the quarter. People s United Financial Inc.’s holdings in Philip Morris International were worth $3,683,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PM. Morgan Stanley raised its holdings in shares of Philip Morris International by 23.9% during the 2nd quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock worth $1,835,871,000 after buying an additional 4,386,487 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Philip Morris International by 1.5% during the 2nd 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. Flossbach Von Storch AG raised its holdings in shares of Philip Morris International by 11.1% during the 3rd quarter. Flossbach Von Storch AG now owns 15,785,256 shares of the company’s stock worth $1,287,130,000 after buying an additional 1,572,560 shares in the last quarter. Fundsmith Equity Fund L.P. acquired a new position in shares of Philip Morris International during the 2nd quarter worth $845,763,000. Finally, Federated Investors Inc. PA raised its holdings in shares of Philip Morris International by 12.4% during the 2nd quarter. Federated Investors Inc. PA now owns 9,380,030 shares of the company’s stock worth $757,344,000 after buying an additional 1,032,255 shares in the last quarter. Hedge funds and other institutional investors own 73.32% of the company’s stock.

A number of brokerages have issued reports on PM. Citigroup upped their target price on Philip Morris International from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 19th. Piper Jaffray Companies set a $110.00 target price on Philip Morris International and gave the stock a “buy” rating in a report on Monday. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a report on Friday, August 24th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, Societe Generale set a $95.00 target price on Philip Morris International and gave the company a “hold” rating in a research report on Monday, October 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Philip Morris International has a consensus rating of “Hold” and a consensus price target of $95.73.

In related news, Director Louis C. Camilleri sold 59,495 shares of Philip Morris International stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $86.98, for a total transaction of $5,174,875.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by company insiders.

NYSE:PM opened at $85.45 on Thursday. The firm has a market cap of $132.80 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60. Philip Morris International Inc. has a 52-week low of $76.21 and a 52-week high of $111.25.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 18th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.28 by $0.16. The company had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.16 billion. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned $1.27 earnings per share. On average, equities analysts expect that Philip Morris International Inc. will post 5.01 EPS for the current fiscal year.

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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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