Philip Morris International Inc. (NYSE:PM) Position Reduced by Viking Fund Management LLC

Viking Fund Management LLC decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 35.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,000 shares of the company's stock after selling 26,000 shares during the quarter. Viking Fund Management LLC's holdings in Philip Morris International were worth $7,460,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC raised its position in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new stake in Philip Morris International in the fourth quarter valued at $33,000. Pacifica Partners Inc. boosted its stake in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Knuff & Co LLC acquired a new position in Philip Morris International during the 4th quarter worth $36,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in Philip Morris International during the 4th quarter worth $36,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PM. Stifel Nicolaus increased their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. UBS Group upgraded 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. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $175.30.

Philip Morris International Price Performance

Shares of PM stock traded up $0.95 during trading hours on Thursday, reaching $181.61. The stock had a trading volume of 3,549,428 shares, compared to its average volume of 6,223,487. The firm has a market capitalization of $282.68 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The firm has a 50-day simple moving average of $166.88 and a 200-day simple moving average of $146.75. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $183.94.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the firm posted $1.50 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. On average, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

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.