Octavia Wealth Advisors LLC Lowers Position in Philip Morris International Inc. (NYSE:PM)

Octavia Wealth Advisors LLC reduced its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,596 shares of the company's stock after selling 2,245 shares during the quarter. Octavia Wealth Advisors LLC's holdings in Philip Morris International were worth $3,777,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PM. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Philip Morris International by 23.3% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,737 shares of the company's stock valued at $6,828,000 after purchasing an additional 10,703 shares during the period. Empire Life Investments Inc. lifted its position in shares of Philip Morris International by 11.6% during the 4th quarter. Empire Life Investments Inc. now owns 94,423 shares of the company's stock valued at $11,364,000 after buying an additional 9,789 shares in the last quarter. Game Plan Financial Advisors LLC grew its stake in Philip Morris International by 80.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 7,660 shares of the company's stock valued at $922,000 after acquiring an additional 3,425 shares during the period. Brighton Jones LLC grew its stake in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares during the period. Finally, Symmetry Investments LP purchased a new stake in Philip Morris International in the 4th quarter worth $1,966,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on PM shares. Citigroup increased their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and increased their target price for the company from $130.00 to $170.00 in a report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. Finally, Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Price Performance

Philip Morris International stock traded up $0.61 during trading on Thursday, reaching $183.98. 5,616,413 shares of the company were exchanged, compared to its average volume of 5,604,958. The stock's 50 day simple moving average is $169.29 and its two-hundred day simple moving average is $148.50. The company has a market capitalization of $286.37 billion, a P/E ratio of 40.79, a PEG ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 52-week low of $98.93 and a 52-week high of $184.33.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share 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.