Panoramic Capital Partners LLC Acquires New Position in Philip Morris International Inc. (NYSE:PM)

Panoramic Capital Partners LLC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,618 shares of the company's stock, valued at approximately $241,000.

Several other institutional investors also recently made changes to their positions in the stock. International Private Wealth Advisors LLC grew its position in Philip Morris International by 17.5% during the first quarter. International Private Wealth Advisors LLC now owns 3,156 shares of the company's stock valued at $501,000 after acquiring an additional 469 shares during the period. Tounjian Advisory Partners LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth about $2,092,000. Pallas Capital Advisors LLC increased its position in Philip Morris International by 227.8% during the 1st quarter. Pallas Capital Advisors LLC now owns 17,169 shares of the company's stock worth $2,725,000 after purchasing an additional 11,932 shares in the last quarter. Farther Finance Advisors LLC increased its position in Philip Morris International by 32.8% during the 1st quarter. Farther Finance Advisors LLC now owns 26,665 shares of the company's stock worth $4,215,000 after purchasing an additional 6,586 shares in the last quarter. Finally, Range Financial Group LLC raised its holdings in Philip Morris International by 6.4% in the first quarter. Range Financial Group LLC now owns 24,373 shares of the company's stock valued at $3,869,000 after buying an additional 1,458 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PM. Citigroup boosted their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and raised their price objective for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Needham & Company LLC began coverage on Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating for the company. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Finally, Wall Street Zen cut Philip Morris International from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $175.30.

Philip Morris International Stock Down 0.6%

Shares of Philip Morris International stock traded down $1.11 on Monday, hitting $180.62. 3,102,894 shares of the company's stock traded hands, compared to its average volume of 5,606,479. The firm's 50-day moving average is $167.81 and its 200 day moving average is $147.69. The stock has a market cap of $281.13 billion, a P/E ratio of 40.05, a PEG ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 52-week low of $98.93 and a 52-week high of $183.94.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the business earned $1.50 EPS. Equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.