IndexIQ Advisors LLC Has $4.02 Million Holdings in Philip Morris International Inc. (NYSE:PM)

IndexIQ Advisors LLC increased its holdings in Philip Morris International Inc. (NYSE:PM) by 27.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,294 shares of the company’s stock after purchasing an additional 10,252 shares during the quarter. IndexIQ Advisors LLC’s holdings in Philip Morris International were worth $4,024,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PM. Penserra Capital Management LLC grew its stake in shares of Philip Morris International by 71.6% in the 3rd quarter. Penserra Capital Management LLC now owns 1,045 shares of the company’s stock valued at $79,000 after buying an additional 436 shares during the period. MUFG Americas Holdings Corp grew its stake in Philip Morris International by 6.1% in the third quarter. MUFG Americas Holdings Corp now owns 168,225 shares of the company’s stock valued at $12,774,000 after acquiring an additional 9,645 shares during the period. First Trust Advisors LP increased its holdings in shares of Philip Morris International by 10.9% during the third quarter. First Trust Advisors LP now owns 1,766,825 shares of the company’s stock valued at $134,155,000 after acquiring an additional 173,113 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in shares of Philip Morris International by 0.5% during the third quarter. Municipal Employees Retirement System of Michigan now owns 62,230 shares of the company’s stock valued at $4,725,000 after acquiring an additional 310 shares in the last quarter. Finally, Sabal Trust CO increased its holdings in shares of Philip Morris International by 42.3% during the third quarter. Sabal Trust CO now owns 3,750 shares of the company’s stock valued at $284,000 after acquiring an additional 1,115 shares in the last quarter. 73.01% of the stock is currently owned by institutional investors.

PM has been the topic of a number of recent research reports. Piper Sandler increased their target price on Philip Morris International from $105.00 to $114.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. UBS Group restated a “buy” rating and set a $101.00 price target on shares of Philip Morris International in a research note on Tuesday. Morgan Stanley upped their price objective on shares of Philip Morris International from $92.00 to $99.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. ValuEngine upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Saturday, January 18th. Finally, Cfra raised their price objective on shares of Philip Morris International from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, February 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $97.00.

NYSE PM opened at $88.04 on Thursday. The firm has a market capitalization of $138.09 billion, a P/E ratio of 19.06, a PEG ratio of 2.09 and a beta of 1.02. The business has a fifty day simple moving average of $86.35 and a 200 day simple moving average of $81.89. Philip Morris International Inc. has a 12 month low of $69.27 and a 12 month high of $92.74.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.01. Philip Morris International had a negative return on equity of 84.30% and a net margin of 9.21%. The business had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.64 billion. During the same period last year, the business earned $1.25 EPS. The business’s revenue was up 2.9% on a year-over-year basis. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.6 EPS for the current fiscal year.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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

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