OLD National Bancorp IN Reduces Stock Position in Philip Morris International Inc. (NYSE:PM)

OLD National Bancorp IN lowered its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,529 shares of the company's stock after selling 1,492 shares during the quarter. 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 hedge funds and other institutional investors have also recently bought and sold shares of PM. Vanguard Group Inc. lifted its position in Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after buying an additional 1,167,810 shares during the last quarter. Capital World Investors raised its stake 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 valued at $14,752,926,000 after acquiring an additional 4,216,586 shares during the period. GQG Partners LLC lifted 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 lifted 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 boosted its position in shares of Philip Morris International by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after purchasing an additional 516,617 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Up 0.3%

Shares of Philip Morris International stock traded up $0.61 on Thursday, reaching $183.98. 5,616,413 shares of the stock were exchanged, compared to its average volume of 5,604,940. The firm 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. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $184.03. The business has a fifty day moving average price of $169.29 and a two-hundred day moving average price of $148.50.

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, topping the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.50 EPS. Research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PM shares. Citigroup boosted their target price 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. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Barclays increased their target price on Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Needham & Company LLC assumed coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating for the company. Two 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 company currently has a consensus rating of "Moderate Buy" and an average price target 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.