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Wedmont Private Capital Acquires 2,382 Shares of Philip Morris International Inc. (NYSE:PM)

Philip Morris International logo with Consumer Staples background

Wedmont Private Capital lifted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,730 shares of the company's stock after purchasing an additional 2,382 shares during the quarter. Wedmont Private Capital's holdings in Philip Morris International were worth $4,421,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PM. NewSquare Capital LLC increased its holdings in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Pacifica Partners Inc. raised its holdings in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter worth about $36,000. McClarren Financial Advisors Inc. purchased a new stake in Philip Morris International in the 4th quarter worth approximately $33,000. Finally, Knuff & Co LLC purchased a new stake in shares of Philip Morris International in the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

Shares of NYSE:PM traded up $4.26 during trading hours on Wednesday, hitting $183.29. 3,018,767 shares of the company's stock traded hands, compared to its average volume of 5,597,366. The company's fifty day simple moving average is $168.63 and its two-hundred day simple moving average is $148.26. 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 $285.29 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly 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 firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.50 earnings per share. On average, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PM shares. Bank of America lifted their target price on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. 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 research note on Thursday, April 24th. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Barclays lifted their target price on Philip Morris International from $175.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus price target of $175.30.

Check Out Our Latest Analysis on PM

About Philip Morris International

(Free Report)

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.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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