Armstrong Fleming & Moore Inc purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,135 shares of the company's stock, valued at approximately $339,000.
Several other hedge funds also recently made changes to their positions in the company. Vest Financial LLC boosted its position in shares of Philip Morris International by 73.5% during the first quarter. Vest Financial LLC now owns 15,315 shares of the company's stock valued at $2,431,000 after purchasing an additional 6,487 shares in the last quarter. Annex Advisory Services LLC boosted its holdings in Philip Morris International by 46.6% in the first quarter. Annex Advisory Services LLC now owns 34,715 shares of the company's stock worth $5,510,000 after acquiring an additional 11,034 shares in the last quarter. Breakwater Capital Group bought a new stake in Philip Morris International in the first quarter worth $293,000. Retirement Planning Group LLC bought a new stake in Philip Morris International in the first quarter worth $269,000. Finally, Chesley Taft & Associates LLC boosted its holdings in Philip Morris International by 1.1% in the first quarter. Chesley Taft & Associates LLC now owns 6,502 shares of the company's stock worth $1,032,000 after acquiring an additional 72 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have commented on PM shares. Barclays boosted their target price on Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus boosted their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Finally, Citigroup upped their price target on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $175.30.
Read Our Latest Stock Analysis on Philip Morris International
Philip Morris International Stock Performance
Philip Morris International stock opened at $181.61 on Friday. The stock has a market cap of $282.68 billion, a PE ratio of 40.27, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $183.94. The stock has a fifty day moving average of $167.34 and a 200 day moving average of $147.10.
Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. Philip Morris International's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 earnings per share. As a group, sell-side analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.
Philip Morris International Company Profile
(
Free Report)
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.
Featured Stories
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