Stonebridge Capital Advisors LLC reduced its position in shares of Philip Morris International Inc (NYSE:PM) by 46.4% during the first quarter, Holdings Channel reports. The firm owned 4,692 shares of the company’s stock after selling 4,066 shares during the period. Stonebridge Capital Advisors LLC’s holdings in Philip Morris International were worth $530,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. Achmea Investment Management B.V. purchased a new stake in shares of Philip Morris International during the first quarter worth about $12,558,000. Gilbert & Cook Inc. boosted its stake in shares of Philip Morris International by 6.7% in the first quarter. Gilbert & Cook Inc. now owns 2,701 shares of the company’s stock worth $305,000 after buying an additional 170 shares during the period. Cambridge Trust Co. boosted its stake in shares of Philip Morris International by 4.2% in the first quarter. Cambridge Trust Co. now owns 7,235 shares of the company’s stock worth $817,000 after buying an additional 290 shares during the period. Bank of Nova Scotia boosted its stake in shares of Philip Morris International by 914.6% in the first quarter. Bank of Nova Scotia now owns 356,756 shares of the company’s stock worth $40,278,000 after buying an additional 321,594 shares during the period. Finally, American Beacon Advisors Inc. purchased a new stake in shares of Philip Morris International during the first quarter worth about $114,000. 72.30% of the stock is owned by hedge funds and other institutional investors.

Shares of Philip Morris International Inc (NYSE:PM) traded up 0.31% during trading on Wednesday, hitting $117.18. The stock had a trading volume of 752,200 shares. The firm has a market cap of $182.00 billion, a P/E ratio of 25.96 and a beta of 0.93. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The firm’s 50-day moving average is $117.35 and its 200-day moving average is $113.46.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that Philip Morris International Inc will post $4.83 EPS for the current year.

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A number of brokerages recently issued reports on PM. BidaskClub raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday. SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and upped their target price for the company from $118.00 to $119.00 in a research report on Friday, August 11th. Piper Jaffray Companies reissued an “overweight” rating and issued a $134.00 target price on shares of Philip Morris International in a research report on Monday, July 31st. Citigroup Inc. reissued a “neutral” rating and issued a $125.00 target price (down from $128.00) on shares of Philip Morris International in a research report on Monday, July 24th. Finally, Zacks Investment Research cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $121.79.

About Philip Morris International

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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

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