Magnus Financial Group LLC Buys 3,822 Shares of Philip Morris International Inc. (NYSE:PM)

Magnus Financial Group LLC grew its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 107.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,372 shares of the company's stock after purchasing an additional 3,822 shares during the quarter. Magnus Financial Group LLC's holdings in Philip Morris International were worth $1,170,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PM. Omnia Family Wealth LLC boosted its position in Philip Morris International by 1.7% during the fourth quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock valued at $469,000 after acquiring an additional 65 shares during the last quarter. Meridian Wealth Partners LLC lifted its stake in shares of Philip Morris International by 4.1% in the 4th quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company's stock valued at $214,000 after purchasing an additional 70 shares during the period. NewSquare Capital LLC boosted its position in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Chesley Taft & Associates LLC boosted its position in shares of Philip Morris International by 1.1% during the 1st quarter. Chesley Taft & Associates LLC now owns 6,502 shares of the company's stock valued at $1,032,000 after purchasing an additional 72 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its stake in Philip Morris International by 2.1% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company's stock worth $437,000 after purchasing an additional 73 shares during the period. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Needham & Company LLC started coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Morgan Stanley restated an "overweight" rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to 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 Trading Down 0.1%

NYSE PM traded down $0.19 during mid-day trading on Friday, hitting $181.77. The company's stock had a trading volume of 2,646,970 shares, compared to its average volume of 5,616,502. The firm has a market capitalization of $282.93 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 2.65 and a beta of 0.52. The company's 50 day simple moving average is $167.81 and its 200 day simple moving average is $147.58. 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 released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share 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 analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the firm earned $1.50 earnings per share. As a group, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

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.