Arbor Wealth Management LLC Has $3.58 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Arbor Wealth Management LLC boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 47,138 shares of the company’s stock after acquiring an additional 647 shares during the period. Philip Morris International comprises 1.8% of Arbor Wealth Management LLC’s investment portfolio, making the stock its 24th biggest holding. Arbor Wealth Management LLC’s holdings in Philip Morris International were worth $3,579,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PM. Dupont Capital Management Corp boosted its holdings in shares of Philip Morris International by 39.3% in the 2nd quarter. Dupont Capital Management Corp now owns 194,221 shares of the company’s stock valued at $15,252,000 after buying an additional 54,796 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in Philip Morris International by 11.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 558,230 shares of the company’s stock valued at $43,838,000 after purchasing an additional 57,445 shares during the last quarter. First Trust Advisors LP raised its position in Philip Morris International by 10.9% in the 3rd quarter. First Trust Advisors LP now owns 1,766,825 shares of the company’s stock valued at $134,155,000 after purchasing an additional 173,113 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its position in Philip Morris International by 0.5% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 62,230 shares of the company’s stock valued at $4,725,000 after purchasing an additional 310 shares during the last quarter. Finally, Invesco Ltd. raised its position in Philip Morris International by 41.5% in the 2nd quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after purchasing an additional 8,824,567 shares during the last quarter. Institutional investors own 73.12% of the company’s stock.

PM has been the subject of several research reports. JPMorgan Chase & Co. set a $86.00 price target on shares of Philip Morris International and gave the company a “neutral” rating in a research report on Wednesday, August 28th. Bank of America upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $96.00 price objective for the company in a research report on Tuesday, October 1st. ValuEngine upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup downgraded shares of Philip Morris International from a “buy” rating to a “neutral” rating and set a $90.00 price objective for the company. in a research report on Monday. Finally, Cowen restated a “hold” rating on shares of Philip Morris International in a research report on Thursday, September 12th. One equities research 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. Philip Morris International currently has a consensus rating of “Hold” and a consensus price target of $92.27.

Shares of PM stock traded down $0.87 during trading hours on Wednesday, hitting $82.10. 5,053,339 shares of the company were exchanged, compared to its average volume of 5,749,956. The firm has a market cap of $129.03 billion, a PE ratio of 16.10, a PEG ratio of 2.02 and a beta of 1.01. Philip Morris International Inc. has a 1 year low of $64.67 and a 1 year high of $92.74. The firm has a fifty day moving average of $82.50 and a 200 day moving average of $80.16.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, October 17th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.08. The firm had revenue of $7.64 billion for the quarter, compared to analyst estimates of $7.65 billion. Philip Morris International had a net margin of 9.59% and a negative return on equity of 82.33%. Philip Morris International’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 earnings per share. As a group, equities research analysts predict that Philip Morris International Inc. will post 5.22 earnings per share for the current year.

Philip Morris International Company 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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