Pinnacle Associates Ltd. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,015 shares of the company’s stock after selling 2,791 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Philip Morris International were worth $6,541,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PM. Optimum Investment Advisors acquired a new position in shares of Philip Morris International during the 1st quarter worth about $100,000. Aristotle Capital Management LLC acquired a new position in shares of Philip Morris International during the 1st quarter worth about $119,000. Shine Investment Advisory Services Inc. increased its stake in shares of Philip Morris International by 90.7% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after purchasing an additional 592 shares during the last quarter. Clearwater Capital Advisors LLC acquired a new position in shares of Philip Morris International during the 1st quarter worth about $128,000. Finally, Landaas & Co. WI ADV acquired a new position in shares of Philip Morris International during the 2nd quarter worth about $106,000. 73.05% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently weighed in on PM shares. Jefferies Financial Group restated a “buy” rating and set a $93.00 price objective on shares of Philip Morris International in a research note on Friday, July 13th. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Morgan Stanley decreased their price target on shares of Philip Morris International from $111.00 to $102.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 17th. Societe Generale lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Finally, Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a research note on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Hold” and an average price target of $103.36.

Shares of PM opened at $79.69 on Friday. Philip Morris International Inc. has a 52 week low of $76.21 and a 52 week high of $119.43. The stock has a market capitalization of $128.14 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.76 and a beta of 0.90. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of -2.76.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 19th. The company reported $1.41 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.18. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter in the prior year, the business earned $1.14 EPS. Philip Morris International’s quarterly revenue was up 11.7% on a year-over-year basis. equities analysts expect that Philip Morris International Inc. will post 5.05 earnings per share for the current year.

Philip Morris International Company Profile

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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