Farther Finance Advisors LLC raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 32.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,665 shares of the company's stock after acquiring an additional 6,586 shares during the period. Farther Finance Advisors LLC's holdings in Philip Morris International were worth $4,215,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NewSquare Capital LLC boosted its position in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares during the last quarter. Pacifica Partners Inc. increased its stake in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares during the period. Ameriflex Group Inc. bought a new position in Philip Morris International during the 4th quarter worth $36,000. McClarren Financial Advisors Inc. acquired a new stake in shares of Philip Morris International during the fourth quarter worth $33,000. Finally, Knuff & Co LLC bought a new stake in shares of Philip Morris International in the fourth quarter valued at about $36,000. 78.63% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have issued reports on the stock. Barclays boosted their price objective 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 price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Stifel Nicolaus lifted their price objective on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Citigroup increased their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Finally, Morgan Stanley restated an "overweight" rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Two 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 target price of $175.30.
Check Out Our Latest Stock Report on PM
Philip Morris International Stock Performance
Shares of Philip Morris International stock traded up $0.09 during trading on Thursday, reaching $183.46. 3,268,281 shares of the company's stock were exchanged, compared to its average volume of 5,596,170. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $184.01. The company has a market cap of $285.56 billion, a P/E ratio of 40.68, a PEG ratio of 2.65 and a beta of 0.52. The firm's 50-day moving average price is $169.29 and its 200 day moving average price is $148.50.
Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results 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 firm had revenue of $9.30 billion for 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%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.50 earnings per share. As a group, equities research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current 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.
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