OLD National Bancorp IN Sells 1,492 Shares of Philip Morris International Inc. (NYSE:PM)

OLD National Bancorp IN decreased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,529 shares of the company's stock after selling 1,492 shares during the period. OLD National Bancorp IN's holdings in Philip Morris International were worth $6,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PM. GQG Partners LLC boosted its stake in shares of Philip Morris International by 14.3% during 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 in the last quarter. GAMMA Investing LLC raised its position in shares of Philip Morris International by 19,986.5% during the first 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 stake in shares of Philip Morris International during the fourth quarter valued at $522,214,000. Kovitz Investment Group Partners LLC boosted its position in shares of Philip Morris International by 372.2% in the 4th 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 period. Finally, Capital World Investors increased its stake in 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 purchasing an additional 4,216,586 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of NYSE PM traded down $1.11 during mid-day trading on Monday, reaching $180.62. 3,101,516 shares of the company traded hands, compared to its average volume of 5,606,447. The company's fifty day moving average is $167.81 and its two-hundred day moving average is $147.69. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $183.94. The stock has a market cap of $281.13 billion, a PE ratio of 40.05, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the company posted $1.50 earnings per share. The company's revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Analyst Ratings Changes

PM has been the topic of several analyst reports. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Barclays boosted their target price on shares of Philip Morris International from $175.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Morgan Stanley reissued an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Bank of America raised their price objective 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. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Company Profile

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.