First Long Island Investors LLC Grows Stock Position in Philip Morris International Inc. (NYSE:PM)

First Long Island Investors LLC lifted its stake in Philip Morris International Inc. (NYSE:PM) by 1.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 177,388 shares of the company’s stock after buying an additional 2,846 shares during the period. First Long Island Investors LLC’s holdings in Philip Morris International were worth $13,469,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Putnam FL Investment Management Co. increased its holdings in shares of Philip Morris International by 168.8% in the third quarter. Putnam FL Investment Management Co. now owns 9,409 shares of the company’s stock worth $714,000 after buying an additional 5,909 shares during the period. ERTS Wealth Advisors LLC increased its holdings in shares of Philip Morris International by 32.0% in the third quarter. ERTS Wealth Advisors LLC now owns 4,698 shares of the company’s stock worth $357,000 after buying an additional 1,138 shares during the period. BBVA USA Bancshares Inc. increased its holdings in Philip Morris International by 43.4% during the 3rd quarter. BBVA USA Bancshares Inc. now owns 136,833 shares of the company’s stock valued at $10,390,000 after purchasing an additional 41,433 shares during the period. Welch Group LLC increased its holdings in Philip Morris International by 2.6% during the 3rd quarter. Welch Group LLC now owns 4,702 shares of the company’s stock valued at $357,000 after purchasing an additional 120 shares during the period. Finally, Griffin Asset Management Inc. increased its holdings in Philip Morris International by 17.7% during the 3rd quarter. Griffin Asset Management Inc. now owns 30,293 shares of the company’s stock valued at $2,300,000 after purchasing an additional 4,556 shares during the period. Hedge funds and other institutional investors own 74.29% of the company’s stock.

Shares of NYSE:PM opened at $83.74 on Tuesday. Philip Morris International Inc. has a 1 year low of $64.67 and a 1 year high of $92.74. The stock’s 50-day moving average is $79.29 and its 200 day moving average is $80.33. The company has a market cap of $130.02 billion, a PE ratio of 16.42, a P/E/G ratio of 2.03 and a beta of 1.00.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 17th. The company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.08. Philip Morris International had a negative return on equity of 82.33% and a net margin of 9.59%. The firm had revenue of $7.64 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the business earned $1.44 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International Inc. will post 5.24 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on PM. Bank of America upgraded Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, October 1st. Wells Fargo & Co reduced their price target on Philip Morris International from $102.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. JPMorgan Chase & Co. set a $86.00 price target on Philip Morris International and gave the company a “neutral” rating in a report on Wednesday, August 28th. Stifel Nicolaus restated a “buy” rating on shares of Philip Morris International in a report on Tuesday, October 15th. Finally, ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Saturday, October 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $92.27.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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

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