Portside Wealth Group LLC Buys 2,697 Shares of Philip Morris International Inc. (NYSE:PM)

Portside Wealth Group LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 7.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 36,881 shares of the company's stock after purchasing an additional 2,697 shares during the quarter. Philip Morris International comprises approximately 1.0% of Portside Wealth Group LLC's holdings, making the stock its 18th largest holding. Portside Wealth Group LLC's holdings in Philip Morris International were worth $5,854,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of PM. NewSquare Capital LLC boosted its stake in 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 during the last quarter. McClarren Financial Advisors Inc. acquired a new stake in shares of Philip Morris International in the 4th quarter valued at about $33,000. Pacifica Partners Inc. lifted its position in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Knuff & Co LLC acquired a new position in Philip Morris International in the fourth quarter worth about $36,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PM shares. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Bank of America upped their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley restated an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Citigroup lifted their target price on shares of 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 equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Stock Performance

Shares of PM traded up $0.95 during trading hours on Thursday, hitting $181.61. 3,566,454 shares of the company were exchanged, compared to its average volume of 5,611,482. The company has a market cap of $282.68 billion, a PE ratio of 40.27, a PEG ratio of 2.65 and a beta of 0.52. The firm's 50 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.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share 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 firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the company earned $1.50 EPS. The company's revenue for the quarter 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 earnings per share 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.