Wedge Capital Management L L P NC Has $34.75 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Wedge Capital Management L L P NC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,935 shares of the company's stock after selling 15,653 shares during the period. Wedge Capital Management L L P NC's holdings in Philip Morris International were worth $34,752,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PM. Park Avenue Securities LLC boosted its position in shares of Philip Morris International by 8.0% during the 1st quarter. Park Avenue Securities LLC now owns 108,884 shares of the company's stock valued at $17,283,000 after acquiring an additional 8,058 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in Philip Morris International by 4,817.2% during the first quarter. SOA Wealth Advisors LLC. now owns 26,651 shares of the company's stock worth $4,230,000 after purchasing an additional 26,109 shares during the period. Professional Advisory Services Inc. bought a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $238,000. Lpwm LLC bought a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $238,000. Finally, Miracle Mile Advisors LLC raised its holdings in shares of Philip Morris International by 2.2% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,233 shares of the company's stock worth $672,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the company from $130.00 to $170.00 in a research note on Friday, April 25th. 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, June 4th. Morgan Stanley reiterated an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Barclays boosted their price target on shares of Philip Morris International from $175.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $175.30.

Philip Morris International Price Performance

Shares of PM stock traded down $1.11 during trading hours on Monday, reaching $180.62. 3,102,894 shares of the company were exchanged, compared to its average volume of 5,606,494. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $183.94. The stock's fifty day moving average is $167.81 and its two-hundred day moving average is $147.69. The company has a market cap of $281.13 billion, a price-to-earnings ratio of 40.05, a P/E/G ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last posted 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. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business 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.

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.