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

Gateway Investment Advisers LLC decreased its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 46.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of PM. GQG Partners LLC lifted its stake in shares of Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after acquiring an additional 6,092,558 shares during the last quarter. GAMMA Investing LLC increased its stake in Philip Morris International by 19,986.5% in the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock worth $712,210,000 after purchasing an additional 4,464,590 shares during the period. Raymond James Financial Inc. purchased a new position in Philip Morris International in the 4th quarter worth approximately $522,214,000. Kovitz Investment Group Partners LLC lifted its position in Philip Morris International by 372.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock valued at $656,303,000 after purchasing an additional 4,298,530 shares during the last quarter. Finally, Capital World Investors lifted its position in Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Up 0.3%

Shares of NYSE:PM traded up $0.61 during trading on Thursday, hitting $183.98. The stock had a trading volume of 5,616,413 shares, compared to its average volume of 5,604,940. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $184.03. The company has a market capitalization of $286.37 billion, a PE ratio of 40.79, a PEG ratio of 2.65 and a beta of 0.52. The firm's fifty day moving average is $169.29 and its 200 day moving average is $148.50.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the prior year, the firm earned $1.50 EPS. The company's revenue was up 5.8% compared to the same quarter last year. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PM. Morgan Stanley restated an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their price target for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Needham & Company LLC started coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $175.30.

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.