Sterling Investment Management Inc. raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 19,635 shares of the company’s stock after buying an additional 1,015 shares during the period. Philip Morris International accounts for about 2.2% of Sterling Investment Management Inc.’s portfolio, making the stock its 17th largest position. Sterling Investment Management Inc.’s holdings in Philip Morris International were worth $2,074,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in PM. Guidant Wealth Advisors boosted its holdings in shares of Philip Morris International by 25.5% during the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock worth $110,000 after purchasing an additional 191 shares during the last quarter. NewSquare Capital LLC boosted its holdings in shares of Philip Morris International by 6,572.3% during the third quarter. NewSquare Capital LLC now owns 101,753 shares of the company’s stock worth $116,000 after purchasing an additional 100,228 shares during the last quarter. Vantage Investment Advisors LLC boosted its holdings in shares of Philip Morris International by 1.0% during the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after purchasing an additional 10 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its holdings in shares of Philip Morris International by 399.2% during the third quarter. Financial Engines Advisors L.L.C. now owns 1,203 shares of the company’s stock worth $134,000 after purchasing an additional 962 shares during the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of Philip Morris International during the fourth quarter worth $134,000. Hedge funds and other institutional investors own 72.31% of the company’s stock.

Philip Morris International Inc. (PM) opened at $103.05 on Wednesday. The company has a debt-to-equity ratio of -3.06, a current ratio of 1.35 and a quick ratio of 0.68. The firm has a market capitalization of $159,047.98, a price-to-earnings ratio of 26.63, a P/E/G ratio of 1.92 and a beta of 0.85. Philip Morris International Inc. has a 52-week low of $96.66 and a 52-week high of $123.55.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). The firm had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.17 billion. Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. analysts predict that Philip Morris International Inc. will post 5.28 earnings per share for the current fiscal year.

Several equities research analysts have recently issued reports on PM shares. Citigroup decreased their price objective on Philip Morris International from $125.00 to $117.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Societe Generale upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Bank of America decreased their price objective on Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a report on Friday, October 20th. Jefferies Group restated a “hold” rating and set a $114.00 price objective on shares of Philip Morris International in a report on Friday, October 20th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $130.00 price objective on shares of Philip Morris International in a report on Sunday, October 22nd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $123.79.

COPYRIGHT VIOLATION NOTICE: This story was first posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.thecerbatgem.com/2018/02/14/sterling-investment-management-inc-has-2-07-million-holdings-in-philip-morris-international-inc-pm.html.

Philip Morris International Profile

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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

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

Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.