Breakwater Capital Group Takes Position in Philip Morris International Inc. (NYSE:PM)

Breakwater Capital Group bought a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,844 shares of the company's stock, valued at approximately $293,000.

Several other hedge funds also recently bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Philip Morris International by 23.3% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,737 shares of the company's stock worth $6,828,000 after purchasing an additional 10,703 shares in the last quarter. Empire Life Investments Inc. lifted its position in shares of Philip Morris International by 11.6% during the fourth quarter. Empire Life Investments Inc. now owns 94,423 shares of the company's stock worth $11,364,000 after purchasing an additional 9,789 shares in the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of Philip Morris International by 80.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 7,660 shares of the company's stock worth $922,000 after purchasing an additional 3,425 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after purchasing an additional 2,023 shares in the last quarter. Finally, Symmetry Investments LP acquired a new stake in shares of Philip Morris International during the fourth quarter worth about $1,966,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

PM stock traded down $0.19 during midday trading on Friday, reaching $181.77. 2,646,970 shares of the company were exchanged, compared to its average volume of 5,616,502. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $183.94. The stock's 50-day simple moving average is $167.81 and its 200 day simple moving average is $147.58. The company has a market cap of $282.93 billion, a price-to-earnings 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 data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the company earned $1.50 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. On average, research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PM. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Barclays raised their target price on shares of Philip Morris International from $175.00 to $205.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Bank of America raised their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $175.30.

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.