McAlister Sweet & Associates Inc. Invests $371,000 in Philip Morris International Inc. (NYSE:PM)

McAlister Sweet & Associates Inc. acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,335 shares of the company's stock, valued at approximately $371,000. Philip Morris International accounts for about 0.3% of McAlister Sweet & Associates Inc.'s portfolio, making the stock its 21st largest position.

Several other hedge funds have also modified their holdings of the stock. NewSquare Capital LLC grew its holdings 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 worth $25,000 after purchasing an additional 72 shares during the period. McClarren Financial Advisors Inc. acquired a new position in Philip Morris International during the fourth quarter valued at approximately $33,000. Pacifica Partners Inc. lifted its position in Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after buying an additional 115 shares in the last quarter. Knuff & Co LLC purchased a new stake in Philip Morris International during the fourth quarter worth approximately $36,000. Finally, Ball & Co Wealth Management Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter worth $36,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PM. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and upped their price target for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Stifel Nicolaus increased 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. Bank of America boosted their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday. Barclays upped their price target on Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, 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. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $175.30.

Philip Morris International Stock Up 0.5%

Shares of PM traded up $0.95 during trading on Thursday, reaching $181.61. The company's stock had a trading volume of 3,566,454 shares, compared to its average volume of 5,611,481. The company 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 company has a fifty day moving average of $166.88 and a two-hundred day moving average of $146.75. 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 posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same period in the prior year, the company posted $1.50 earnings per share. The firm's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

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.