State Street Corp increased its stake in Philip Morris International Inc (NYSE:PM) by 1.8% during the first quarter, Holdings Channel reports. The institutional investor owned 59,926,871 shares of the company’s stock after buying an additional 1,058,408 shares during the period. State Street Corp’s holdings in Philip Morris International were worth $6,766,079,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Philip Morris International during the fourth quarter valued at $106,000. Gradient Investments LLC raised its stake in Philip Morris International by 76.1% in the first quarter. Gradient Investments LLC now owns 986 shares of the company’s stock valued at $111,000 after buying an additional 426 shares in the last quarter. Welch Investments LLC bought a new stake in Philip Morris International during the first quarter valued at $113,000. Acropolis Investment Management LLC bought a new stake in Philip Morris International during the first quarter valued at $117,000. Finally, Gemmer Asset Management LLC raised its stake in Philip Morris International by 40.6% in the first quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after buying an additional 322 shares in the last quarter. 72.45% of the stock is owned by institutional investors and hedge funds.

Shares of Philip Morris International Inc (NYSE:PM) traded up 0.740% during mid-day trading on Friday, hitting $115.065. The company had a trading volume of 684,742 shares. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The firm’s 50-day moving average price is $117.70 and its 200 day moving average price is $112.79. The company has a market capitalization of $178.72 billion, a P/E ratio of 25.496 and a beta of 0.93.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.23 by $0.09. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same period last year, the firm earned $1.15 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

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Several equities research analysts have recently weighed in on PM shares. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Stifel Nicolaus reissued a “buy” rating and set a $118.00 price objective on shares of Philip Morris International in a research note on Sunday, April 23rd. BidaskClub lowered Philip Morris International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Vetr raised Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Monday, June 26th. Finally, Zacks Investment Research raised Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a research note on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $122.00.

About Philip Morris International

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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