Carnegie Capital Asset Management LLC Has $401,000 Position in Philip Morris International Inc. (NYSE:PM)

Carnegie Capital Asset Management LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,565 shares of the company’s stock after selling 300 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Philip Morris International were worth $401,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. raised its position in shares of Philip Morris International by 42.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 17,487 shares of the company’s stock worth $1,488,000 after acquiring an additional 5,243 shares during the last quarter. Banco Santander S.A. bought a new stake in shares of Philip Morris International during the fourth quarter worth $7,591,000. Amalgamated Bank raised its position in shares of Philip Morris International by 7.7% during the fourth quarter. Amalgamated Bank now owns 234,115 shares of the company’s stock worth $19,921,000 after acquiring an additional 16,648 shares during the last quarter. BerganKDV Wealth Management LLC raised its position in shares of Philip Morris International by 21.7% during the fourth quarter. BerganKDV Wealth Management LLC now owns 1,404 shares of the company’s stock worth $119,000 after acquiring an additional 250 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. bought a new stake in shares of Philip Morris International during the fourth quarter worth $214,000. 74.02% of the stock is currently owned by institutional investors.

Shares of Philip Morris International stock opened at $70.45 on Friday. Philip Morris International Inc. has a 1 year low of $56.01 and a 1 year high of $90.17. The business has a 50-day moving average of $73.12 and a two-hundred day moving average of $80.74. The company has a market capitalization of $109.78 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, April 21st. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.08. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The company had revenue of $7.15 billion during the quarter, compared to the consensus estimate of $6.87 billion. During the same period in the prior year, the company earned $1.09 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities research analysts expect that Philip Morris International Inc. will post 4.95 EPS for the current fiscal year.

A number of research firms have recently weighed in on PM. Cfra boosted their target price on Philip Morris International from $90.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. UBS Group boosted their target price on Philip Morris International from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Citigroup dropped their target price on Philip Morris International from $90.00 to $78.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Goldman Sachs Group assumed coverage on Philip Morris International in a report on Wednesday, April 1st. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Morgan Stanley dropped their price objective on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $91.14.

In other Philip Morris International news, insider Marc S. Firestone sold 22,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

Philip Morris International 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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