Philip Morris International Inc. (NYSE:PM) Stake Lowered by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,456 shares of the company’s stock after selling 13,445 shares during the quarter. Bridges Investment Management Inc.’s holdings in Philip Morris International were worth $8,570,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its position in shares of Philip Morris International by 1.6% in the 4th quarter. Integrated Wealth Concepts LLC now owns 7,545 shares of the company’s stock worth $642,000 after buying an additional 116 shares during the period. Penserra Capital Management LLC grew its position in shares of Philip Morris International by 11.2% in the 4th quarter. Penserra Capital Management LLC now owns 1,162 shares of the company’s stock worth $96,000 after buying an additional 117 shares during the period. Wealthcare Capital Management LLC grew its position in shares of Philip Morris International by 7.6% in the 4th quarter. Wealthcare Capital Management LLC now owns 1,717 shares of the company’s stock worth $146,000 after buying an additional 122 shares during the period. GYL Financial Synergies LLC grew its position in Philip Morris International by 4.2% during the 4th quarter. GYL Financial Synergies LLC now owns 3,294 shares of the company’s stock valued at $280,000 after purchasing an additional 132 shares during the last quarter. Finally, Arbor Wealth Management LLC grew its position in Philip Morris International by 0.3% during the 4th quarter. Arbor Wealth Management LLC now owns 47,273 shares of the company’s stock valued at $4,022,000 after purchasing an additional 135 shares during the last quarter. 74.70% of the stock is owned by institutional investors.

Shares of NYSE:PM traded down $0.15 during trading on Friday, hitting $73.36. The company’s stock had a trading volume of 7,066,009 shares, compared to its average volume of 4,949,976. The company has a 50-day moving average of $72.82 and a 200-day moving average of $80.33. Philip Morris International Inc. has a 12 month low of $56.01 and a 12 month high of $90.17. The firm has a market cap of $114.46 billion, a price-to-earnings ratio of 14.91, a P/E/G ratio of 2.27 and a beta of 0.79.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.08. Philip Morris International had a net margin of 9.75% and a negative return on equity of 84.38%. The firm had revenue of $7.15 billion for the quarter, compared to analysts’ expectations of $6.87 billion. During the same quarter in the prior year, the business earned $1.09 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, equities research analysts forecast that Philip Morris International Inc. will post 4.89 EPS for the current year.

Several analysts recently commented on PM shares. Panmure Gordon raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research report on Friday, April 3rd. Morgan Stanley cut their price objective on shares of Philip Morris International from $99.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Cowen raised shares of Philip Morris International from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $90.00 to $102.00 in a research report on Thursday, February 13th. UBS Group increased their price objective on shares of Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, Citigroup cut their price objective on shares of Philip Morris International from $90.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $91.14.

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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