Keystone Financial Planning Inc. Sells 55,900 Shares of Philip Morris International Inc. (NYSE:PM)

Keystone Financial Planning Inc. cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 67.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,732 shares of the company's stock after selling 55,900 shares during the period. Philip Morris International accounts for about 1.3% of Keystone Financial Planning Inc.'s holdings, making the stock its 19th biggest position. Keystone Financial Planning Inc.'s holdings in Philip Morris International were worth $4,243,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PM. Vanguard Group Inc. raised its stake in shares of Philip Morris International by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock worth $16,780,688,000 after buying an additional 1,167,810 shares during the last quarter. Capital World Investors increased its position in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after purchasing an additional 4,216,586 shares in the last quarter. GQG Partners LLC increased its position in Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC grew its holdings in Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after buying an additional 3,185,258 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Philip Morris International by 3.1% in the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock valued at $2,079,262,000 after buying an additional 516,617 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC began coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus increased their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Bank of America increased their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Citigroup increased their target price on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating and ten have issued 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 Trading Up 0.4%

NYSE PM traded up $0.80 during trading on Thursday, reaching $181.46. 1,651,790 shares of the company's stock were exchanged, compared to its average volume of 5,604,220. Philip Morris International Inc. has a fifty-two week low of $98.93 and a fifty-two week high of $183.94. The firm has a market capitalization of $282.45 billion, a PE ratio of 40.24, a P/E/G ratio of 2.65 and a beta of 0.52. The company's fifty day simple moving average is $166.88 and its 200-day simple moving average is $146.75.

Philip Morris International (NYSE:PM - Get Free Report) last announced 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. 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%. The firm's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 EPS. Equities analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal 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.