Philip Morris International Inc (PM) Shares Bought by Cornerstone Advisors Inc.

Cornerstone Advisors Inc. boosted its stake in shares of Philip Morris International Inc (NYSE:PM) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,053 shares of the company’s stock after purchasing an additional 18 shares during the period. Cornerstone Advisors Inc.’s holdings in Philip Morris International were worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PM. Welch Investments LLC bought a new position in Philip Morris International during the first quarter valued at approximately $113,000. American Beacon Advisors Inc. bought a new position in Philip Morris International during the first quarter valued at approximately $114,000. Acropolis Investment Management LLC lifted its position in Philip Morris International by 0.5% during the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after purchasing an additional 5 shares during the period. Gemmer Asset Management LLC lifted its position in Philip Morris International by 40.6% during the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after purchasing an additional 322 shares during the period. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its position in Philip Morris International by 75.0% during 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 purchasing an additional 750 shares during the period. Institutional investors own 72.02% of the company’s stock.

In related news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction 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 this link. Insiders own 0.23% of the company’s stock.

Shares of Philip Morris International Inc (NYSE PM) traded down 1.56% during mid-day trading on Friday, hitting $117.06. 3,660,047 shares of the stock were exchanged. The stock’s 50-day moving average price is $116.44 and its 200-day moving average price is $115.19. The company has a market cap of $181.82 billion, a P/E ratio of 25.94 and a beta of 0.94. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $7.11 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

Several research firms have weighed in on PM. Vetr downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $108.70 price target on the stock. in a research report on Monday, May 15th. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. BidaskClub downgraded shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $133.00 price target (down from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Buy” and an average price target of $122.79.

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Philip Morris International 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.

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

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