Kayne Anderson Rudnick Investment Management LLC reduced its position in shares of Philip Morris International Inc (NYSE:PM) by 1.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 349,889 shares of the company’s stock after selling 3,956 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Philip Morris International were worth $39,502,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Viking Fund Management LLC boosted its position in 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 during the last quarter. Tompkins Financial Corp raised its stake in shares of Philip Morris International by 1,860.8% in the first quarter. Tompkins Financial Corp now owns 5,804 shares of the company’s stock worth $569,000 after buying an additional 5,508 shares during the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO raised its stake in shares of Philip Morris International by 2.5% in the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 37,119 shares of the company’s stock worth $4,191,000 after buying an additional 908 shares during the last quarter. BLB&B Advisors LLC raised its stake in shares of Philip Morris International by 2.5% in the first quarter. BLB&B Advisors LLC now owns 16,335 shares of the company’s stock worth $1,844,000 after buying an additional 400 shares during the last quarter. Finally, Integrated Wealth Management raised its stake in shares of Philip Morris International by 0.4% in the first quarter. Integrated Wealth Management now owns 76,432 shares of the company’s stock worth $8,629,000 after buying an additional 342 shares during the last quarter. Hedge funds and other institutional investors own 72.02% of the company’s stock.

Philip Morris International Inc (NYSE PM) traded up 0.77% during midday trading on Friday, reaching $117.83. 3,036,762 shares of the company traded hands. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The company has a 50 day moving average price of $116.73 and a 200-day moving average price of $114.76. The stock has a market capitalization of $183.01 billion, a P/E ratio of 26.11 and a beta of 0.94.

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

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PM has been the topic of a number of research reports. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. BidaskClub lowered shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a research note 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 research note 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 research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $133.00 target price (down previously from $134.00) on shares of Philip Morris International in a research note on Saturday, July 22nd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $122.79.

In related news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by company 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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