Philip Morris International Inc. (NYSE:PM) Position Reduced by Wright Investors Service Inc.

Wright Investors Service Inc. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 52.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,732 shares of the company's stock after selling 9,763 shares during the period. Wright Investors Service Inc.'s holdings in Philip Morris International were worth $1,386,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PM. GQG Partners LLC boosted its holdings in Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Philip Morris International in the fourth quarter valued at approximately $522,214,000. Kovitz Investment Group Partners LLC raised its position in shares of Philip Morris International by 372.2% in 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 buying an additional 4,298,530 shares during the last quarter. Finally, Capital World Investors raised its position in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after buying an additional 4,216,586 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of PM stock traded up $0.80 on Thursday, hitting $181.46. The stock had a trading volume of 1,651,790 shares, compared to its average volume of 5,604,220. The firm has a market capitalization of $282.45 billion, a price-to-earnings ratio of 40.24, a P/E/G ratio of 2.65 and a beta of 0.52. The stock's 50 day moving average is $166.88 and its 200-day moving average is $146.75. Philip Morris International Inc. has a 52-week low of $98.93 and a 52-week high of $183.94.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the prior year, the firm posted $1.50 EPS. The firm's revenue was up 5.8% compared to the same quarter last year. Equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Wall Street Analyst Weigh In

PM has been the subject of a number of analyst reports. 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. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Barclays increased their price objective on shares of Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Bank of America increased their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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.