Gateway Investment Advisers LLC Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Gateway Investment Advisers LLC decreased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 46.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,233 shares of the company's stock after selling 12,327 shares during the quarter. Gateway Investment Advisers LLC's holdings in Philip Morris International were worth $2,259,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. NewSquare Capital LLC increased its holdings in shares of Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new stake in Philip Morris International during the fourth quarter valued at $33,000. Pacifica Partners Inc. raised its stake in Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Knuff & Co LLC bought a new position in Philip Morris International during the fourth quarter valued at $36,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in shares of Philip Morris International in the 4th quarter worth $36,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Citigroup upped their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Morgan Stanley reissued an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Stifel Nicolaus increased their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Price Performance

Shares of NYSE:PM traded down $1.11 on Monday, hitting $180.62. 3,099,503 shares of the company's stock were exchanged, compared to its average volume of 5,606,442. The stock has a market capitalization of $281.13 billion, a price-to-earnings ratio of 40.05, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $183.94. The business's 50 day simple moving average is $167.81 and its two-hundred day simple moving average is $147.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. Equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.