Evercore Wealth Management LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,613 shares of the company’s stock after buying an additional 247 shares during the period. Evercore Wealth Management LLC’s holdings in Philip Morris International were worth $5,148,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PM. Glassman Wealth Services increased its position in Philip Morris International by 0.4% in the second quarter. Glassman Wealth Services now owns 1,000 shares of the company’s stock worth $102,000 after buying an additional 4 shares during the period. Acropolis Investment Management LLC increased its position in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,054 shares of the company’s stock worth $107,000 after buying an additional 5 shares during the period. Intersect Capital LLC increased its position in Philip Morris International by 0.3% in the second quarter. Intersect Capital LLC now owns 3,260 shares of the company’s stock worth $332,000 after buying an additional 11 shares during the period. Hudock Capital Group LLC increased its position in Philip Morris International by 0.4% in the second quarter. Hudock Capital Group LLC now owns 3,660 shares of the company’s stock worth $372,000 after buying an additional 13 shares during the period. Finally, Moody National Bank Trust Division increased its position in Philip Morris International by 0.3% in the second quarter. Moody National Bank Trust Division now owns 5,895 shares of the company’s stock worth $599,000 after buying an additional 15 shares during the period. Institutional investors and hedge funds own 71.07% of the company’s stock.

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

Shares of Philip Morris International Inc. (NYSE:PM) traded down 0.20% on Friday, hitting $89.09. The company’s stock had a trading volume of 6,470,994 shares. Philip Morris International Inc. has a one year low of $83.33 and a one year high of $104.20. The stock has a 50-day moving average price of $96.28 and a 200 day moving average price of $99.09. The firm has a market cap of $138.21 billion, a price-to-earnings ratio of 21.31 and a beta of 0.91.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 18th. The company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.02. Philip Morris International had a net margin of 8.77% and a negative return on equity of 59.94%. The business had revenue of $6.98 billion for the quarter, compared to analyst estimates of $7.01 billion. During the same period in the prior year, the company posted $1.24 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts predict that Philip Morris International Inc. will post $4.54 EPS for the current year.

A number of brokerages recently commented on PM. Zacks Investment Research cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday, September 23rd. Credit Agricole SA reaffirmed an “outperform” rating on shares of Philip Morris International in a report on Sunday, September 25th. Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Philip Morris International in a report on Thursday, September 22nd. Citigroup Inc. began coverage on Philip Morris International in a report on Tuesday, September 13th. They issued a “neutral” rating and a $106.00 target price on the stock. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $110.00 target price on shares of Philip Morris International in a report on Tuesday, September 27th. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $105.13.

About Philip Morris International

Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

5 Day Chart for NYSE:PM

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