Secure Asset Management LLC Decreases Stock Position in Philip Morris International Inc. (NYSE:PM)

Secure Asset Management LLC cut its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 9.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,179 shares of the company's stock after selling 1,513 shares during the period. Secure Asset Management LLC's holdings in Philip Morris International were worth $2,409,000 at the end of the most recent quarter.

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

Philip Morris International Stock Up 0.5%

Shares of PM traded up $0.95 during trading hours on Thursday, hitting $181.61. The company had a trading volume of 3,566,454 shares, compared to its average volume of 5,612,861. The firm 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. The stock's 50 day moving average price is $166.88 and its 200 day moving average price 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 (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the firm earned $1.50 earnings per share. On average, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Citigroup lifted their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $175.30.

Philip Morris International 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.