Arbor Wealth Management LLC Sells 168 Shares of Philip Morris International Inc. (NYSE:PM)

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Arbor Wealth Management LLC reduced its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,491 shares of the company’s stock after selling 168 shares during the period. Philip Morris International comprises about 2.0% of Arbor Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position. Arbor Wealth Management LLC’s holdings in Philip Morris International were worth $3,651,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Clarfeld Financial Advisors LLC acquired a new stake in Philip Morris International in the 4th quarter valued at about $40,000. CX Institutional grew its holdings in Philip Morris International by 432.1% during the first quarter. CX Institutional now owns 447 shares of the company’s stock valued at $40,000 after purchasing an additional 363 shares during the period. HMS Capital Management LLC bought a new position in Philip Morris International in the second quarter valued at approximately $46,000. Shamrock Asset Management LLC lifted its stake in Philip Morris International by 53.9% in the first quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after buying an additional 200 shares in the last quarter. Finally, Weaver Consulting Group bought a new position in Philip Morris International in the first quarter valued at approximately $55,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE PM opened at $84.49 on Friday. The firm has a market cap of $128.19 billion, a PE ratio of 16.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.96. The company has a 50 day simple moving average of $82.74 and a 200 day simple moving average of $83.57. 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 released its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.42 billion. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. Analysts predict that Philip Morris International Inc. will post 5.21 EPS for the current year.

In related 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Michael R. Kunst bought 500 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was purchased at an average price of $80.74 per share, for a total transaction of $40,370.00. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

PM has been the topic of a number of research reports. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Tuesday, May 7th. Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Bank of America raised shares of Philip Morris International from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $81.00 to $94.00 in a research report on Friday, May 17th. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Co set a $102.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $93.92.

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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