Harbor Capital Advisors Inc. Invests $3.72 Million in Philip Morris International Inc. (NYSE:PM)

Harbor Capital Advisors Inc. purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 23,446 shares of the company's stock, valued at approximately $3,722,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Philip Morris International by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after purchasing an additional 1,167,810 shares during the period. Capital World Investors grew its holdings in shares of Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after acquiring an additional 4,216,586 shares during the last quarter. GQG Partners LLC grew its holdings 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 worth $5,866,678,000 after acquiring an additional 6,092,558 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after acquiring an additional 3,185,258 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Philip Morris International by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after acquiring an additional 516,617 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PM. Citigroup lifted their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Stifel Nicolaus raised their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Bank of America raised their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $175.30.

Philip Morris International Stock Up 0.3%

Shares of NYSE:PM traded up $0.61 on Thursday, reaching $183.98. The company had a trading volume of 5,616,413 shares, compared to its average volume of 5,611,045. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $184.33. The stock has a 50-day moving average price of $169.95 and a 200 day moving average price of $148.87. The stock has a market capitalization of $286.37 billion, a P/E ratio of 40.79, a P/E/G ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly 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 negative return on equity of 120.08% and a net margin of 7.89%. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. The business's quarterly revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share 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.