American Beacon Advisors Inc. acquired a new position in Philip Morris International Inc (NYSE:PM) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,008 shares of the company’s stock, valued at approximately $114,000. Philip Morris International makes up 1.5% of American Beacon Advisors Inc.’s portfolio, making the stock its 10th largest position.

Several other hedge funds have also added to or reduced their stakes in PM. State Street Corp raised its stake in Philip Morris International by 1.8% in the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after buying an additional 1,058,408 shares during the last quarter. Legal & General Group Plc raised its stake in Philip Morris International by 3.9% in the first quarter. Legal & General Group Plc now owns 7,211,588 shares of the company’s stock worth $814,358,000 after buying an additional 268,119 shares during the last quarter. Swiss National Bank raised its stake in Philip Morris International by 26.2% in the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after buying an additional 1,189,800 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Philip Morris International by 4.9% in the first quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock worth $604,524,000 after buying an additional 251,734 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Philip Morris International by 4.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 5,064,097 shares of the company’s stock worth $571,737,000 after buying an additional 218,999 shares during the last quarter. Hedge funds and other institutional investors own 72.30% of the company’s stock.

Shares of Philip Morris International Inc (NYSE:PM) traded up 0.92% during mid-day trading on Tuesday, hitting $115.82. 396,971 shares of the stock traded hands. The firm has a market cap of $179.89 billion, a price-to-earnings ratio of 25.66 and a beta of 0.93. Philip Morris International Inc has a 12-month low of $86.78 and a 12-month high of $123.55. The firm’s 50 day moving average price is $117.43 and its 200 day moving average price is $113.31.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same period last year, the company earned $1.15 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts predict that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.

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A number of analysts have recently weighed in on PM shares. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the company a “hold” rating in a research report on Saturday, June 24th. Vetr upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $111.99 price target on the stock in a research report on Tuesday, May 16th. Finally, Wells Fargo & Company restated an “outperform” rating on shares of Philip Morris International in a research report on Friday, June 9th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $121.79.

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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