Merit Financial Group LLC Buys 22,110 Shares of Philip Morris International Inc. (NYSE:PM)

Merit Financial Group LLC boosted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 24.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,164 shares of the company's stock after acquiring an additional 22,110 shares during the quarter. Merit Financial Group LLC's holdings in Philip Morris International were worth $18,121,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC lifted 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 valued at $25,000 after acquiring an additional 72 shares in the last quarter. Pacifica Partners Inc. raised its position in Philip Morris International by 115.0% in the first 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. Ameriflex Group Inc. acquired a new position in shares of Philip Morris International during the fourth quarter worth about $36,000. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter worth about $33,000. Finally, Knuff & Co LLC purchased a new stake in shares of Philip Morris International in the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 0.5%

PM stock traded up $0.95 during mid-day trading on Thursday, reaching $181.61. 3,549,322 shares of the stock traded hands, compared to its average volume of 5,611,397. The stock's fifty day moving average is $166.88 and its 200-day moving average is $146.75. Philip Morris International Inc. has a 52-week low of $98.93 and a 52-week high of $183.94. The company has a market cap of $282.68 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.65 and a beta of 0.52.

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, topping the consensus estimate of $1.61 by $0.08. The business 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%. Philip Morris International's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period last year, the company earned $1.50 earnings per share. Equities research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on PM. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Morgan Stanley restated an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Finally, Citigroup upped their target price on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of "Moderate Buy" and a consensus target price 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.