Pallas Capital Advisors LLC Buys 11,932 Shares of Philip Morris International Inc. (NYSE:PM)

Pallas Capital Advisors LLC increased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 227.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,169 shares of the company's stock after purchasing an additional 11,932 shares during the period. Pallas Capital Advisors LLC's holdings in Philip Morris International were worth $2,725,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PM. GQG Partners LLC boosted its holdings in Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. GAMMA Investing LLC grew its holdings in 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 valued at $712,210,000 after purchasing an additional 4,464,590 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Philip Morris International during the fourth quarter valued at approximately $522,214,000. Kovitz Investment Group Partners LLC grew its holdings in Philip Morris International by 372.2% during 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 grew its holdings in Philip Morris International by 3.6% during 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. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Up 2.4%

Shares of PM stock traded up $4.26 during mid-day trading on Wednesday, reaching $183.29. The stock had a trading volume of 3,946,131 shares, compared to its average volume of 5,604,891. The firm's 50 day simple moving average is $168.63 and its 200 day simple moving average is $148.26. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $183.94. The firm has a market cap of $285.29 billion, a PE ratio of 40.64, 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 data on Wednesday, April 23rd. The company reported $1.69 EPS 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 the consensus estimate of $9.10 billion. During the same quarter last year, the company earned $1.50 EPS. The company's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PM has been the topic of several analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, Stifel Nicolaus lifted their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.