Philip Morris misses 1Q forecasts, volume continues decline

It reported adjusted earnings per share of 98 cents, below the FactSet consensus of $1.03. YHB Investment Advisors Inc. now owns 4,062 shares of the company's stock worth $395,000 after buying an additional 15 shares during the last quarter. MI ADV increased its position in Philip Morris International by 635.1% in the third quarter. Finally, Verus Financial Partners Inc. increased its stake in Philip Morris International by 0.6% in the third quarter. Cornerstone Advisors Inc. increased its position in Philip Morris International by 1.1% in the third quarter. The stock now has an average rating of "Buy" and an average price target of $111.57. (NYSE:PM) by 22.6% during the first quarter, Holdings Channel reports.

At time of writing this, the stock fell 3.44 percent. If you are reading this piece on another site, it was copied illegally and republished in violation of US and global copyright laws. One research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company's stock. This represents a $4.16 annualized dividend and a yield of 3.68%. Nicholas Co. Inc. WI now owns 606,755 shares of the company's stock valued at $55,512,000 after buying an additional 37,840 shares during the period. Sheets Smith Wealth Management now owns 7,248 shares of the company's stock worth $705,000 after buying an additional 19 shares during the last quarter. The ex-dividend date was Tuesday, March 21st.

A number of institutional investors have recently bought and sold shares of PM.

Cowen and Company restated their outperform rating on shares of Philip Morris International Inc. The relative volume (ratio between current volume and 3-month average) is presently sitting at 0.58. Philip Morris International Inc. has a 12-month low of $86.78 and a 12-month high of $115.63.

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In other news, CEO Andre Calantzopoulos sold 35,000 shares of the business's stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $102.65, for a total value of $3,592,750.00. Insiders own 0.25% of the company's stock. Following the completion of the sale, the chief executive officer now directly owns 787,671 shares in the company, valued at $80,854,428.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

BlackRock Inc is the second biggest holder with 89 million shares now valued at 9.76 B million whilst Capital Research Global Investors has 74 million shares valued at 6.74 B million.

Want to see what other hedge funds are holding PM? Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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