CI Global Investments Inc. grew its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 0.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,601,804 shares of the company’s stock after acquiring an additional 4,778 shares during the quarter. Philip Morris International makes up 2.0% of CI Global Investments Inc.’s holdings, making the stock its 17th biggest holding. CI Global Investments Inc.’s holdings in Philip Morris International were worth $130,611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Alerus Financial NA raised its position in Philip Morris International by 11.3% in the 2nd quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock worth $7,058,000 after purchasing an additional 8,897 shares during the period. Envestnet Asset Management Inc. raised its position in Philip Morris International by 11.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock worth $16,235,000 after purchasing an additional 20,196 shares during the period. Zacks Investment Management raised its position in Philip Morris International by 7.4% in the 2nd quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock worth $42,569,000 after purchasing an additional 36,303 shares during the period. IMA Wealth Inc. purchased a new stake in Philip Morris International in the 2nd quarter worth about $149,000. Finally, Jupiter Asset Management Ltd. raised its position in Philip Morris International by 102.3% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock worth $5,879,000 after purchasing an additional 36,816 shares during the period. Hedge funds and other institutional investors own 72.31% of the company’s stock.

A number of analysts recently weighed in on PM shares. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Wednesday, July 25th. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock. in a research report on Friday, August 24th. Citigroup increased their price objective on shares of Philip Morris International from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Friday, September 21st. Finally, Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Monday, September 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $94.73.

Shares of NYSE:PM opened at $83.95 on Thursday. The company has a market cap of $136.22 billion, a PE ratio of 17.03, a P/E/G ratio of 2.01 and a beta of 0.58. Philip Morris International Inc. has a one year low of $76.21 and a one year high of $111.25.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.16. The business had revenue of $7.50 billion for the quarter, compared to analyst estimates 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 period last year, the company posted $1.27 earnings per share. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.01 EPS for the current year.

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Philip Morris International Company Profile

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.

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

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