Gradient Investments LLC Takes Position in Philip Morris International Inc. (NYSE:PM)

Gradient Investments LLC acquired a new position in Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,600 shares of the company's stock, valued at approximately $254,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PM. NewSquare Capital LLC increased its stake in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after acquiring an additional 72 shares during the last quarter. Pacifica Partners Inc. raised its position in shares of Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Philip Morris International during the fourth quarter valued at $36,000. McClarren Financial Advisors Inc. bought a new stake in shares of Philip Morris International in the 4th quarter worth $33,000. Finally, Knuff & Co LLC bought a new stake in shares of Philip Morris International in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on PM. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and lifted their target price for the company from $130.00 to $170.00 in a research report on Friday, April 25th. 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 research report on Tuesday, February 18th. Bank of America boosted 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. Stifel Nicolaus upped their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC initiated coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Trading Up 0.5%

Shares of PM traded up $0.95 during midday trading on Thursday, hitting $181.61. 3,566,454 shares of the company's stock traded hands, compared to its average volume of 5,611,481. Philip Morris International Inc. has a 1 year low of $98.93 and a 1 year high of $183.94. The firm's fifty day moving average is $166.88 and its 200-day moving average is $146.75. The stock has a market capitalization of $282.68 billion, a price-to-earnings ratio of 40.27, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. On average, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS 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.