CIBC World Markets Inc. reduced its stake in Philip Morris International Inc (NYSE:PM) by 26.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,403 shares of the company’s stock after selling 11,752 shares during the period. CIBC World Markets Inc.’s holdings in Philip Morris International were worth $3,771,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PM. Welch Investments LLC bought a new stake in shares of Philip Morris International during the first quarter valued at about $113,000. Gemmer Asset Management LLC increased its stake in shares of Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after buying an additional 322 shares during the period. American National Bank increased its stake in shares of Philip Morris International by 19.8% in the first quarter. American National Bank now owns 1,737 shares of the company’s stock valued at $196,000 after buying an additional 287 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in shares of Philip Morris International by 75.0% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock valued at $198,000 after buying an additional 750 shares during the period. Finally, Corundum Group Inc. bought a new stake in shares of Philip Morris International during the first quarter valued at about $202,000. Institutional investors own 72.02% of the company’s stock.

Shares of Philip Morris International Inc (NYSE:PM) traded up 0.77% during trading on Friday, hitting $117.83. The stock had a trading volume of 3,036,762 shares. The stock’s 50 day moving average is $116.73 and its 200 day moving average is $114.76. Philip Morris International Inc has a 52 week low of $86.78 and a 52 week high of $123.55. The stock has a market capitalization of $183.01 billion, a price-to-earnings ratio of 26.11 and a beta of 0.94.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.23 by $0.09. The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.15 earnings per share. On average, equities research analysts expect that Philip Morris International Inc will post $4.82 earnings per share for the current fiscal year.

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Several analysts recently issued reports on the company. Jefferies Group LLC reissued a “hold” rating and issued a $121.00 price target on shares of Philip Morris International in a report on Tuesday, June 20th. Vetr downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $108.70 price target on the stock. in a report on Monday, May 8th. Piper Jaffray Companies set a $134.00 price target on Philip Morris International and gave the stock a “buy” rating in a report on Saturday, August 19th. SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and raised their price target for the stock from $118.00 to $119.00 in a report on Friday, August 11th. Finally, BidaskClub raised Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and an average price target of $122.79.

In other news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by insiders.

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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