Federated Hermes Inc. lowered its stake in Philip Morris International Inc. (NYSE:PM) by 0.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,811,542 shares of the company’s stock after selling 35,654 shares during the period. Philip Morris International makes up 1.7% of Federated Hermes Inc.’s holdings, making the stock its 5th biggest holding. Federated Hermes Inc.’s holdings in Philip Morris International were worth $569,930,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Solstein Capital LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth about $28,000. Key Financial Inc bought a new stake in shares of Philip Morris International in the 1st quarter worth about $41,000. Howard Wealth Management LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth about $43,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth about $48,000. Finally, New South Capital Management Inc. bought a new stake in shares of Philip Morris International in the 4th quarter worth about $51,000. 74.69% of the stock is owned by institutional investors.

Several equities research analysts have recently weighed in on PM shares. UBS Group boosted their target price on shares of Philip Morris International from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Cfra boosted 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 report on Thursday, February 6th. Zacks Investment Research downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 price objective for the company. in a research report on Wednesday, May 13th. Panmure Gordon raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Friday, April 3rd. Finally, Goldman Sachs Group initiated coverage on shares of Philip Morris International in a research report on Wednesday, April 1st. They set a “buy” rating and a $80.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. Philip Morris International presently has an average rating of “Buy” and a consensus price target of $91.14.

Philip Morris International stock traded up $0.54 during midday trading on Wednesday, reaching $74.27. 201,206 shares of the stock traded hands, compared to its average volume of 5,006,992. The firm has a fifty day moving average price of $72.69 and a two-hundred day moving average price of $80.12. The firm has a market cap of $114.81 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 2.28 and a beta of 0.77. Philip Morris International Inc. has a fifty-two week low of $56.01 and a fifty-two week high of $90.17.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, April 21st. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The firm had revenue of $7.15 billion during the quarter, compared to analyst estimates of $6.87 billion. Philip Morris International had a net margin of 9.75% and a negative return on equity of 84.38%. Philip Morris International’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. On average, research analysts expect that Philip Morris International Inc. will post 4.89 EPS for the current year.

Philip Morris International Profile

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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