Horizon Investment Services LLC Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Horizon Investment Services LLC lowered its stake in Philip Morris International Inc. (NYSE:PM) by 3.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 large investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC increased its position in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares during the last quarter. Boyd Watterson Asset Management LLC OH increased its holdings in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares during the last quarter. Fortitude Family Office LLC raised its position in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the period. Northwest Financial Advisors purchased a new position in shares of Philip Morris International during the 4th quarter worth $33,000. Finally, Olistico Wealth LLC bought a new stake in shares of Philip Morris International during the 2nd quarter valued at $34,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

PM opened at $125.18 on Friday. The stock has a market capitalization of $194.60 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.41 and a beta of 0.55. The company has a fifty day moving average of $113.38 and a 200 day moving average of $101.98. Philip Morris International Inc. has a fifty-two week low of $87.23 and a fifty-two week high of $127.45.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the company earned $1.60 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PM. JPMorgan Chase & Co. raised their target price on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Stifel Nicolaus lifted their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays increased their target price on shares of Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Bank of America lifted their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $113.70.

Philip Morris International Company 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.