Whittier Trust Co. cut its position in shares of Philip Morris International Inc (NYSE:PM) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 152,518 shares of the company’s stock after selling 960 shares during the period. Whittier Trust Co.’s holdings in Philip Morris International were worth $17,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PM. Philadelphia Trust Co. raised its position in shares of Philip Morris International by 9.5% in the fourth quarter. Philadelphia Trust Co. now owns 6,603 shares of the company’s stock worth $604,000 after buying an additional 575 shares during the last quarter. Highbridge Capital Management LLC raised its position in shares of Philip Morris International by 180.4% in the fourth quarter. Highbridge Capital Management LLC now owns 147,038 shares of the company’s stock worth $13,453,000 after buying an additional 94,599 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Philip Morris International during the fourth quarter worth $4,595,000. Kentucky Retirement Systems purchased a new position in shares of Philip Morris International during the fourth quarter worth $10,299,000. Finally, Pegasus Partners Ltd. raised its position in shares of Philip Morris International by 2.4% in the fourth quarter. Pegasus Partners Ltd. now owns 3,661 shares of the company’s stock worth $335,000 after buying an additional 86 shares during the last quarter. Institutional investors own 72.45% of the company’s stock.

Shares of Philip Morris International Inc (NYSE:PM) traded up 0.70% during mid-day trading on Friday, hitting $115.02. The company had a trading volume of 1,054,924 shares. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55. The firm has a 50-day moving average of $117.70 and a 200-day moving average of $112.79. The company has a market cap of $178.65 billion, a PE ratio of 25.49 and a beta of 0.93.

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

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A number of brokerages have issued reports on PM. Vetr downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $117.88 target price for the company. in a research note on Monday, June 19th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $121.00 target price on shares of Philip Morris International in a research note on Tuesday, June 20th. BidaskClub raised Philip Morris International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Philip Morris International in a research note on Friday, June 9th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $134.00 target price on shares of Philip Morris International in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $122.00.

About Philip Morris International

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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