Cullen Frost Bankers Inc. Has $29.02 Million Stake in Philip Morris International Inc. (NYSE:PM)

Cullen Frost Bankers Inc. trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 286,386 shares of the company’s stock after selling 4,525 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Philip Morris International were worth $29,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Hanlon Investment Management Inc. lifted its holdings in Philip Morris International by 16.8% in the 2nd quarter. Hanlon Investment Management Inc. now owns 2,558 shares of the company’s stock worth $259,000 after purchasing an additional 368 shares during the last quarter. Gentry Private Wealth LLC acquired a new stake in Philip Morris International in the 2nd quarter worth approximately $329,000. Sivia Capital Partners LLC acquired a new stake in Philip Morris International in the 2nd quarter worth approximately $283,000. Lake Street Advisors Group LLC lifted its holdings in Philip Morris International by 4.1% in the 2nd quarter. Lake Street Advisors Group LLC now owns 7,524 shares of the company’s stock worth $772,000 after purchasing an additional 294 shares during the last quarter. Finally, Savant Capital LLC lifted its holdings in Philip Morris International by 0.5% in the 2nd quarter. Savant Capital LLC now owns 44,535 shares of the company’s stock worth $4,513,000 after purchasing an additional 222 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on PM shares. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Barclays lifted their price target on Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft lifted their price target 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. Bank of America boosted their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Stifel Nicolaus boosted 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $113.70.

Philip Morris International Stock Up 0.5 %

NYSE PM traded up $0.63 on Friday, reaching $125.81. The company had a trading volume of 8,412,610 shares, compared to its average volume of 5,317,667. The stock’s 50 day moving average is $113.87 and its 200-day moving average is $102.23. The stock has a market cap of $195.58 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.41 and a beta of 0.55. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $127.45.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the prior year, the company earned $1.60 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts forecast that Philip Morris International Inc. will post 6.45 EPS for the current year.

Insider Buying and Selling

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

About Philip Morris International

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.