Girard Partners LTD. cut its stake in Philip Morris International Inc. (NYSE:PM) by 4.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,965 shares of the company’s stock after selling 1,406 shares during the period. Girard Partners LTD.’s holdings in Philip Morris International were worth $2,524,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Shine Investment Advisory Services Inc. lifted its holdings in Philip Morris International by 90.7% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock valued at $101,000 after purchasing an additional 592 shares during the last quarter. Landaas & Co. WI ADV bought a new position in Philip Morris International during the 2nd quarter valued at about $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in Philip Morris International during the 2nd quarter valued at about $108,000. BerganKDV Wealth Management LLC bought a new position in Philip Morris International during the 2nd quarter valued at about $123,000. Finally, Westbourne Investment Advisors Inc. bought a new position in Philip Morris International during the 3rd quarter valued at about $148,000. 72.31% of the stock is owned by hedge funds and other institutional investors.

PM opened at $87.63 on Tuesday. The stock has a market capitalization of $134.20 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 1.98 and a beta of 0.58. Philip Morris International Inc. has a 1-year low of $76.21 and a 1-year high of $111.25.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.16. The firm had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 EPS. Equities research analysts forecast that Philip Morris International Inc. will post 5.01 earnings per share for the current fiscal year.

Several brokerages recently issued reports on PM. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Societe Generale set a $95.00 price target on shares of Philip Morris International and gave the company a “hold” rating in a report on Monday, October 22nd. Citigroup lifted their price target on shares of Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a report on Friday, October 19th. ValuEngine raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Finally, Sanford C. Bernstein began coverage on shares of Philip Morris International in a report on Tuesday, October 16th. They set an “outperform” rating and a $97.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $94.73.

ILLEGAL ACTIVITY NOTICE: This report was published by Daily Political and is the property of of Daily Political. If you are accessing this report on another domain, it was stolen and republished in violation of U.S. & international trademark and copyright laws. The original version of this report can be read at https://www.dailypolitical.com/2018/11/20/girard-partners-ltd-trims-holdings-in-philip-morris-international-inc-pm.html.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

Recommended Story: Bond

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

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

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.