Philip Morris International Inc. (NYSE:PM) Shares Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,498 shares of the company’s stock after selling 488 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Philip Morris International were worth $667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PM. Ellis Investment Partners LLC raised its position in shares of Philip Morris International by 8,799.3% during the 1st quarter. Ellis Investment Partners LLC now owns 690,054 shares of the company’s stock valued at $690,000 after acquiring an additional 682,300 shares in the last quarter. Pendal Group Ltd grew its stake in Philip Morris International by 31.5% during the 2nd quarter. Pendal Group Ltd now owns 2,658,816 shares of the company’s stock worth $187,959,000 after buying an additional 637,613 shares during the last quarter. First Trust Advisors LP grew its stake in Philip Morris International by 40.3% during the 2nd quarter. First Trust Advisors LP now owns 1,593,712 shares of the company’s stock worth $125,154,000 after buying an additional 457,597 shares during the last quarter. Thoroughbred Financial Services LLC grew its stake in Philip Morris International by 7,753.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 443,223 shares of the company’s stock worth $44,322,000 after buying an additional 437,579 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc grew its stake in Philip Morris International by 31.0% during the 2nd quarter. Schafer Cullen Capital Management Inc now owns 1,775,596 shares of the company’s stock worth $145,404,000 after buying an additional 420,020 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Mario Masseroli sold 1,100 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Michael R. Kunst purchased 500 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average cost of $80.74 per share, with a total value of $40,370.00. The disclosure for this purchase can be found here. Corporate insiders own 0.21% of the company’s stock.

A number of brokerages recently commented on PM. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $82.00 to $100.00 in a research note on Friday, July 19th. Wells Fargo & Co set a $102.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 19th. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Hold” and a consensus target price of $93.92.

Shares of NYSE:PM traded up $0.42 on Friday, hitting $84.91. The company’s stock had a trading volume of 3,257,800 shares, compared to its average volume of 4,999,183. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $92.74. The company has a market capitalization of $131.45 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 2.07 and a beta of 0.96. The stock’s 50-day moving average is $82.88 and its two-hundred day moving average is $83.58.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same quarter in the prior year, the business posted $1.41 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts expect that Philip Morris International Inc. will post 5.21 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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