Carnegie Capital Asset Management LLC Has $401,000 Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Carnegie Capital Asset Management LLC lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 5.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,565 shares of the company’s stock after selling 300 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Philip Morris International were worth $401,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Integrated Wealth Concepts LLC boosted its holdings in shares of Philip Morris International by 1.6% during the 4th quarter. Integrated Wealth Concepts LLC now owns 7,545 shares of the company’s stock valued at $642,000 after acquiring an additional 116 shares in the last quarter. Penserra Capital Management LLC lifted its holdings in Philip Morris International by 11.2% during 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 lifted its holdings in Philip Morris International by 7.6% during 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 lifted its holdings 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 worth $280,000 after buying an additional 132 shares during the period. Finally, Arbor Wealth Management LLC lifted its holdings 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 worth $4,022,000 after buying an additional 135 shares during the period. 74.02% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Marc S. Firestone sold 22,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Several brokerages have commented on PM. Cowen raised Philip Morris International from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $90.00 to $102.00 in a report on Thursday, February 13th. Panmure Gordon raised Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Friday, April 3rd. Citigroup cut their target price on Philip Morris International from $90.00 to $78.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Morgan Stanley cut their target price on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Finally, Zacks Investment Research downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 target price on the stock. in a report on Wednesday, May 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. Philip Morris International presently has an average rating of “Buy” and an average target price of $91.14.

PM stock opened at $70.45 on Friday. The stock has a 50-day moving average price of $73.12 and a 200-day moving average price of $80.74. Philip Morris International Inc. has a 1-year low of $56.01 and a 1-year high of $90.17. The firm has a market cap of $109.78 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, April 21st. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The business had revenue of $7.15 billion during the quarter, compared to analyst estimates of $6.87 billion. During the same period in the previous year, the company posted $1.09 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts forecast that Philip Morris International Inc. will post 4.95 earnings per share for the current year.

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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