Philip Morris International Inc (PM) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. decreased its position in Philip Morris International Inc (NYSE:PM) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,198 shares of the company’s stock after selling 215 shares during the period. Grimes & Company Inc.’s holdings in Philip Morris International were worth $845,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PM. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Philip Morris International during the fourth quarter valued at approximately $106,000. Gradient Investments LLC increased its stake in shares of Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock valued at $111,000 after buying an additional 426 shares in the last quarter. Welch Investments LLC purchased a new stake in shares of Philip Morris International during the first quarter valued at approximately $113,000. American Beacon Advisors Inc. purchased a new stake in shares of Philip Morris International during the first quarter valued at approximately $114,000. Finally, Acropolis Investment Management LLC purchased a new stake in shares of Philip Morris International during the first quarter valued at approximately $117,000. Hedge funds and other institutional investors own 72.30% of the company’s stock.

Philip Morris International Inc (PM) traded down 0.52% during midday trading on Friday, hitting $115.33. The stock had a trading volume of 4,178,162 shares. The stock has a market capitalization of $179.13 billion, a PE ratio of 25.56 and a beta of 0.93. Philip Morris International Inc has a 1-year low of $86.78 and a 1-year high of $123.55. The stock’s 50-day moving average is $117.20 and its 200-day moving average is $113.64.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.09. The company had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. On average, equities research analysts anticipate that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.

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Several equities research analysts have recently commented on PM shares. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $133.00 price target (down previously from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Vetr downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $111.99 price target on the stock. in a research report on Monday, May 22nd. Bank of America Corporation upped their price target on shares of Philip Morris International from $120.00 to $123.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 30th. Finally, BidaskClub cut Philip Morris International from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Philip Morris International currently has an average rating of “Buy” and a consensus price target of $121.79.

Philip Morris International Company Profile

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.

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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