According to a report from Rivertonroll on January 7th, there has been a significant change in the stock holdings of American tobacco industry giant, Philip Morris International Inc.
Strs Ohio Fund reduced its stake in Philip Morris International by 0.7% in the third quarter of this year. According to the latest disclosure from the Securities and Exchange Commission (SEC), the institutional investor sold 7,945 shares of the company's stock during this quarter, resulting in its current holding of 1,073,468 shares. Based on data from the most recent quarter, the value of Strs Ohio Fund's holdings in Philip Morris International amounted to $99.381 million.
In addition, investment firms and hedge funds such as Cornerstone Advisors LLC, Moneta Group Investment Advisors LLC, Capital World Investors, Bank Julius Baer & Co. Ltd Zurich, and Boston Partners have recently made adjustments to their holdings in Philip Morris International. Currently, approximately 80% of the company's stocks are held by hedge funds and other institutional investors.
According to data from MarketBeat, several investment firms, including Morgan Stanley, Redburn Atlantic, UBS Group, JPMorgan, and Barclays, have recently made adjustments to their target stock price or rating for Philip Morris International. The current average rating for Philip Morris International is "moderate buy," with a target stock price of approximately $109.27.
According to legal documents from the US Securities and Exchange Commission, an insider at Philip Morris International, Wilde Frederic De, sold 10,000 shares of the company's stock on November 28th, with a total value of $942,500. Following this transaction, Frederic De still owns 198,447 shares of the company's stock, which are valued at $18,703,600. The total holdings of insiders now represent 0.13% of the company's outstanding shares.
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