Philip Morris International Inc (PM) Shares Sold by Smith Salley & Associates

Smith Salley & Associates lessened its stake in Philip Morris International Inc (NYSE:PM) by 5.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,016 shares of the company’s stock after selling 500 shares during the quarter. Smith Salley & Associates’ holdings in Philip Morris International were worth $1,059,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PM. Viking Fund Management LLC lifted its holdings in shares of Philip Morris International by 6.7% in the first quarter. Viking Fund Management LLC now owns 32,000 shares of the company’s stock worth $3,613,000 after buying an additional 2,000 shares in the last quarter. Berkshire Asset Management LLC PA lifted its holdings in shares of Philip Morris International by 2.2% in the first quarter. Berkshire Asset Management LLC PA now owns 30,823 shares of the company’s stock worth $3,480,000 after buying an additional 658 shares in the last quarter. Cullinan Associates Inc. lifted its holdings in shares of Philip Morris International by 86.0% in the first quarter. Cullinan Associates Inc. now owns 70,806 shares of the company’s stock worth $7,994,000 after buying an additional 32,735 shares in the last quarter. Oliver Luxxe Assets LLC lifted its holdings in shares of Philip Morris International by 1.7% in the first quarter. Oliver Luxxe Assets LLC now owns 18,253 shares of the company’s stock worth $2,061,000 after buying an additional 301 shares in the last quarter. Finally, Pinnacle Bank purchased a new position in shares of Philip Morris International in the first quarter worth $483,000. 72.02% of the stock is currently owned by hedge funds and other institutional investors.

PM has been the topic of several research analyst reports. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. BidaskClub downgraded shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Vetr raised shares of Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Monday, June 26th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $133.00 target price (down previously from $134.00) on shares of Philip Morris International in a report on Saturday, July 22nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $122.79.

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In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.

Philip Morris International Inc (NYSE:PM) traded up 0.94% on Monday, reaching $118.16. 1,274,090 shares of the company’s stock were exchanged. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The firm has a market cap of $183.52 billion, a PE ratio of 26.18 and a beta of 0.94. The firm has a 50 day moving average price of $116.35 and a 200 day moving average price of $115.34.

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

Philip Morris International Profile

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.

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

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