Exchange Bank Trims Stake in Philip Morris International Inc. (NYSE:PM)

Exchange Bank reduced its position in Philip Morris International Inc. (NYSE:PM) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,364 shares of the company’s stock after selling 466 shares during the quarter. Philip Morris International accounts for approximately 1.5% of Exchange Bank’s holdings, making the stock its 20th biggest holding. Exchange Bank’s holdings in Philip Morris International were worth $1,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. Capital & Planning LLC increased its position in shares of Philip Morris International by 7.1% during the fourth quarter. Capital & Planning LLC now owns 2,613 shares of the company’s stock worth $318,000 after acquiring an additional 173 shares during the period. Brighton Jones LLC increased its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after acquiring an additional 91 shares during the period. Soltis Investment Advisors LLC increased its position in shares of Philip Morris International by 9.8% during the fourth quarter. Soltis Investment Advisors LLC now owns 2,492 shares of the company’s stock worth $300,000 after acquiring an additional 222 shares during the period. Finally, Focus Financial Network Inc. increased its position in shares of Philip Morris International by 7.6% during the fourth quarter. Focus Financial Network Inc. now owns 5,152 shares of the company’s stock worth $620,000 after acquiring an additional 364 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on PM. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Needham & Company LLC began coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They set a “buy” rating on the stock. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday, May 30th. UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $130.00 to $170.00 in a report on Friday, April 25th. Finally, Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.30.

Philip Morris International Stock Up 2.4%

Shares of PM opened at $183.29 on Thursday. The company has a market cap of $285.29 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $183.94. The company has a 50 day moving average of $169.29 and a two-hundred day moving average of $148.50.

Philip Morris International (NYSE:PM) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Philip Morris International’s revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.50 earnings per share. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.