Daymark Wealth Partners LLC Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Daymark Wealth Partners LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,005 shares of the company's stock after selling 2,073 shares during the quarter. Daymark Wealth Partners LLC's holdings in Philip Morris International were worth $3,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Range Financial Group LLC increased its holdings in shares of Philip Morris International by 6.4% in the 1st quarter. Range Financial Group LLC now owns 24,373 shares of the company's stock worth $3,869,000 after purchasing an additional 1,458 shares in the last quarter. Moss Adams Wealth Advisors LLC boosted its position in shares of Philip Morris International by 20.6% during the first quarter. Moss Adams Wealth Advisors LLC now owns 4,335 shares of the company's stock valued at $694,000 after buying an additional 741 shares during the last quarter. NewSquare Capital LLC increased its holdings in Philip Morris International by 191.3% in the 1st quarter. NewSquare Capital LLC now owns 600 shares of the company's stock worth $95,000 after buying an additional 394 shares in the last quarter. Courier Capital LLC raised its position in Philip Morris International by 3.2% in the 1st quarter. Courier Capital LLC now owns 4,039 shares of the company's stock worth $641,000 after buying an additional 125 shares during the last quarter. Finally, Priebe Wealth Holdings LLC bought a new position in Philip Morris International during the 1st quarter valued at about $289,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Down 0.6%

NYSE:PM traded down $1.11 during mid-day trading on Monday, hitting $180.62. 3,102,894 shares of the company traded hands, compared to its average volume of 5,606,479. The stock's fifty day moving average price is $167.81 and its 200-day moving average price is $147.69. The firm has a market cap of $281.13 billion, a price-to-earnings ratio of 40.05, 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.

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 (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 the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The firm's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 EPS. Equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on PM. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Citigroup upped their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Morgan Stanley reissued an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Bank of America boosted their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus 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.