ACT Wealth Management LLC Invests $241,000 in Philip Morris International Inc. (NYSE:PM)

ACT Wealth Management LLC acquired a new position in Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,516 shares of the company's stock, valued at approximately $241,000.

A number of other large investors have also recently made changes to their positions in PM. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after purchasing an additional 1,167,810 shares in the last quarter. Capital World Investors boosted its position in shares of Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. GQG Partners LLC boosted its position in shares of Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Philip Morris International by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after purchasing an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Philip Morris International by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock valued at $2,079,262,000 after purchasing an additional 516,617 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Philip Morris International stock traded down $0.19 during mid-day trading on Friday, reaching $181.77. 2,646,970 shares of the stock traded hands, compared to its average volume of 5,604,064. The business's 50-day moving average is $167.81 and its 200-day moving average is $147.46. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $183.94. The stock has a market capitalization of $282.93 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays lifted their price objective on Philip Morris International from $175.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Finally, Stifel Nicolaus boosted their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $175.30.

Philip Morris International 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.