CNB Bank Buys 1,149 Shares of Philip Morris International Inc. (PM)

CNB Bank lifted its stake in Philip Morris International Inc. (NYSE:PM) by 17.1% in the first quarter, HoldingsChannel.com reports. The firm owned 7,853 shares of the company’s stock after acquiring an additional 1,149 shares during the quarter. CNB Bank’s holdings in Philip Morris International were worth $694,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan purchased a new position in Philip Morris International in the fourth quarter valued at $5,362,000. Avalon Advisors LLC boosted its holdings in Philip Morris International by 5,917.2% in the fourth quarter. Avalon Advisors LLC now owns 1,250,502 shares of the company’s stock valued at $83,484,000 after purchasing an additional 1,229,720 shares during the period. Aviance Capital Management LLC purchased a new position in Philip Morris International in the fourth quarter valued at $2,333,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Philip Morris International by 31.7% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,800 shares of the company’s stock valued at $587,000 after purchasing an additional 2,120 shares during the period. Finally, Joel Isaacson & Co. LLC boosted its holdings in Philip Morris International by 137.1% in the fourth quarter. Joel Isaacson & Co. LLC now owns 17,149 shares of the company’s stock valued at $1,192,000 after purchasing an additional 9,915 shares during the period. Hedge funds and other institutional investors own 73.18% of the company’s stock.

Shares of NYSE PM opened at $86.81 on Monday. The stock has a market cap of $135.06 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 2.18 and a beta of 0.93. Philip Morris International Inc. has a 1 year low of $64.67 and a 1 year high of $92.74.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, April 18th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.10. The company had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.76 billion. Philip Morris International had a negative return on equity of 78.74% and a net margin of 9.74%. Philip Morris International’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. As a group, sell-side analysts predict that Philip Morris International Inc. will post 5.19 earnings per share for the current fiscal year.

In other news, Director Louis C. Camilleri sold 70,000 shares of Philip Morris International stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $83.54, for a total transaction of $5,847,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Michael R. Kunst bought 2,500 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were purchased at an average price of $84.67 per share, for a total transaction of $211,675.00. The disclosure for this purchase can be found here. Insiders have sold 121,200 shares of company stock worth $10,186,984 in the last quarter. Insiders own 0.21% of the company’s stock.

A number of research analysts recently issued reports on PM shares. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Friday, March 15th. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. Bank of America raised Philip Morris International from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $81.00 to $94.00 in a report on Friday. UBS Group raised Philip Morris International from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $101.00 in a report on Wednesday, February 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $80.00 price target on shares of Philip Morris International in a report on Sunday, February 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $93.38.

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About Philip Morris International

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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