Clare Market Investments LLC Buys Shares of 6,445 Philip Morris International Inc. (NYSE:PM)

Clare Market Investments LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,445 shares of the company's stock, valued at approximately $1,023,000.

A number of other large investors have also added to or reduced their stakes in the stock. Portside Wealth Group LLC lifted its position in Philip Morris International by 7.9% during the first quarter. Portside Wealth Group LLC now owns 36,881 shares of the company's stock worth $5,854,000 after purchasing an additional 2,697 shares during the period. Key Client Fiduciary Advisors LLC bought a new stake in shares of Philip Morris International during the 1st quarter worth approximately $214,000. Long Run Wealth Advisors LLC boosted its position in shares of Philip Morris International by 1.9% during the 1st quarter. Long Run Wealth Advisors LLC now owns 5,236 shares of the company's stock worth $831,000 after acquiring an additional 98 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in Philip Morris International in the first quarter valued at approximately $238,000. Finally, Firethorn Wealth Partners LLC increased its stake in Philip Morris International by 12.5% in the first quarter. Firethorn Wealth Partners LLC now owns 1,966 shares of the company's stock valued at $312,000 after acquiring an additional 218 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PM. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and raised their target price for the company from $130.00 to $170.00 in a report on Friday, April 25th. Bank of America upped their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Citigroup boosted their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Finally, Morgan Stanley reissued 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and an average price target of $175.30.

Philip Morris International Stock Performance

Shares of Philip Morris International stock traded up $0.95 on Thursday, hitting $181.61. The stock had a trading volume of 3,566,454 shares, compared to its average volume of 5,612,861. The stock has a 50 day moving average of $166.88 and a 200 day moving average of $146.75. The firm has a market capitalization of $282.68 billion, a P/E ratio of 40.27, a PEG ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a twelve month low of $98.93 and a twelve month high of $183.94.

Philip Morris International (NYSE:PM - Get Free Report) last announced 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. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company's revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.50 EPS. Equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

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.