Rhumbline Advisers Has $397.92 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

Rhumbline Advisers trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,506,916 shares of the company's stock after selling 38,582 shares during the quarter. Rhumbline Advisers owned 0.16% of Philip Morris International worth $397,923,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Aletheian Wealth Advisors LLC purchased a new position in Philip Morris International during the 1st quarter worth $274,000. Sterneck Capital Management LLC acquired a new position in Philip Morris International during the 1st quarter worth approximately $219,000. Fifth Third Wealth Advisors LLC raised its stake in shares of Philip Morris International by 21.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 31,757 shares of the company's stock worth $5,041,000 after buying an additional 5,686 shares in the last quarter. Pacifica Partners Inc. boosted its stake in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after buying an additional 115 shares in the last quarter. Finally, Investors Research Corp raised its position in Philip Morris International by 38.0% in the first quarter. Investors Research Corp now owns 458 shares of the company's stock worth $73,000 after acquiring an additional 126 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PM shares. Barclays upped their price target on Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus raised their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and increased their price objective for the company from $130.00 to $170.00 in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their target price on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a report on Tuesday, February 18th. Finally, Citigroup boosted their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus price target of $175.30.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $1.15 during midday trading on Thursday, reaching $181.81. 1,119,624 shares of the company's stock were exchanged, compared to its average volume of 5,602,032. The company's 50 day simple moving average is $166.88 and its two-hundred day simple moving average is $146.75. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $183.94. The firm has a market capitalization of $282.99 billion, a PE ratio of 40.31, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

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