Today, Monarch Capital Management Inc. Reduced the position of Philip Morris International Inc. (PM)

Today, Monarch Capital Management Inc. Reduced the position of Philip Morris International Inc. (PM)

Monarch Capital Management Inc. reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 33.9% during the third quarter, Holdings Channel reports. The institutional investor owned 43,875 shares of the company’s stock after selling 22,550 shares during the period. Philip Morris International makes up 1.6% of Monarch Capital Management Inc.’s portfolio, making the stock its 27th largest position. Monarch Capital Management Inc.’s holdings in Philip Morris International were worth $4,266,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Squarepoint Ops LLC purchased a new stake in shares of Philip Morris International during the first quarter worth approximately $829,000. Boothbay Fund Management LLC purchased a new stake in shares of Philip Morris International during the first quarter worth approximately $303,000. First American Trust FSB boosted its stake in shares of Philip Morris International by 9.1% in the second quarter. First American Trust FSB now owns 6,158 shares of the company’s stock worth $626,000 after buying an additional 513 shares in the last quarter. Marshwinds Advisory Co. boosted its stake in shares of Philip Morris International by 2.4% in the second quarter. Marshwinds Advisory Co. now owns 4,687 shares of the company’s stock worth $477,000 after buying an additional 111 shares in the last quarter. Finally, Stock Yards Bank & Trust Co. boosted its stake in shares of Philip Morris International by 0.5% in the second quarter. Stock Yards Bank & Trust Co. now owns 36,401 shares of the company’s stock worth $3,703,000 after buying an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 71.01% of the company’s stock.

Philip Morris International Inc. (NYSE:PM) traded up 0.45% during midday trading on Friday, reaching $89.29. 3,850,451 shares of the company traded hands. The company has a market capitalization of $138.52 billion, a price-to-earnings ratio of 21.36 and a beta of 0.91. Philip Morris International Inc. has a one year low of $84.46 and a one year high of $104.20. The stock’s 50 day moving average is $93.88 and its 200 day moving average is $98.46.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, October 18th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.02. The business had revenue of $6.98 billion for the quarter, compared to the consensus estimate of $7.01 billion. Philip Morris International had a net margin of 8.77% and a negative return on equity of 59.94%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. On average, equities analysts anticipate that Philip Morris International Inc. will post $4.53 earnings per share for the current year.

Several brokerages have recently weighed in on PM. Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Tuesday, November 15th. reissued an “outperform” rating on shares of Philip Morris International in a research report on Sunday, September 25th. Jefferies Group began coverage on shares of Philip Morris International in a research report on Wednesday, September 21st. They issued a “hold” rating and a $96.00 price objective on the stock. Citigroup Inc. began coverage on shares of Philip Morris International in a research report on Tuesday, September 13th. They issued a “neutral” rating and a $106.00 price objective on the stock. Finally, Vetr lowered shares of Philip Morris International from a “strong-buy” rating to a “buy” rating and set a $100.12 price objective on the stock. in a research report on Monday, November 21st. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $104.82.

In other Philip Morris International news, Director Jun Makihara acquired 2,000 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were acquired at an average cost of $89.22 per share, with a total value of $178,440.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

About Philip Morris International

Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

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