Westbourne Investment Advisors Inc. Continues to Hold Stake in Philip Morris International Inc (PM)

Westbourne Investment Advisors Inc. maintained its position in shares of Philip Morris International Inc (NYSE:PM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,813 shares of the company’s stock at the end of the second quarter. Westbourne Investment Advisors Inc.’s holdings in Philip Morris International were worth $213,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Philip Morris International during the fourth quarter valued at about $106,000. Gradient Investments LLC increased its position in shares of Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock valued at $111,000 after buying an additional 426 shares during the period. Welch Investments LLC purchased a new position in shares of Philip Morris International during the first quarter valued at $113,000. American Beacon Advisors Inc. purchased a new position in shares of Philip Morris International during the first quarter valued at $114,000. Finally, Acropolis Investment Management LLC purchased a new position in shares of Philip Morris International during the first quarter valued at $117,000. 72.45% of the stock is owned by hedge funds and other institutional investors.

Shares of Philip Morris International Inc (NYSE:PM) traded up 0.58% on Friday, hitting $114.88. 2,653,779 shares of the company’s stock traded hands. The company has a market cap of $178.43 billion, a price-to-earnings ratio of 25.46 and a beta of 0.93. Philip Morris International Inc has a 1-year low of $86.78 and a 1-year high of $123.55. The firm’s 50-day moving average price is $117.56 and its 200 day moving average price is $112.93.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.09. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter last year, the business earned $1.15 earnings per share. Philip Morris International’s revenue was up 4.0% compared to the same quarter last year. On average, equities research analysts expect that Philip Morris International Inc will post $4.83 earnings per share for the current year.

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Several research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Saturday. SBG Securities upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Friday. Berenberg Bank set a $96.00 price objective on shares of Philip Morris International and gave the company a “hold” rating in a research note on Saturday, June 24th. Citigroup Inc. reiterated a “neutral” rating and set a $125.00 price objective (down from $128.00) on shares of Philip Morris International in a research note on Monday, July 24th. Finally, Bank of America Corporation raised their price target on shares of Philip Morris International from $120.00 to $123.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 30th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $122.00.

About Philip Morris International

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

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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