Granite Bay Wealth Management LLC Invests $238,000 in Philip Morris International Inc. (NYSE:PM)

Granite Bay Wealth Management LLC purchased a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,500 shares of the company's stock, valued at approximately $238,000.

Other large investors have also added to or reduced their stakes in the company. NewSquare Capital LLC boosted its holdings in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after acquiring an additional 72 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Philip Morris International during the 4th quarter worth approximately $33,000. Pacifica Partners Inc. boosted its stake in Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the period. Knuff & Co LLC acquired a new position in Philip Morris International in the 4th quarter valued at $36,000. Finally, Ball & Co Wealth Management Inc. bought a new position in Philip Morris International during the 4th quarter worth $36,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 0.5%

Shares of Philip Morris International stock traded up $0.95 during trading on Thursday, hitting $181.61. The stock had a trading volume of 3,566,454 shares, compared to its average volume of 5,611,482. The firm has a market cap of $282.68 billion, a price-to-earnings ratio of 40.27, a P/E/G ratio of 2.65 and a beta of 0.52. The business's 50-day moving average is $166.88 and its 200 day moving average is $146.75. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month 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 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 firm's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 EPS. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PM shares. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Stifel Nicolaus boosted their price objective 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. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and increased their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Finally, Citigroup boosted their price target on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $175.30.

About Philip Morris International

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.