MainStreet Investment Advisors LLC grew its position in Philip Morris International Inc. (NYSE:PM) by 362.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,337 shares of the company’s stock after buying an additional 8,883 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Philip Morris International were worth $827,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Solstein Capital LLC purchased a new stake in shares of Philip Morris International during the 4th quarter worth $28,000. Key Financial Inc purchased a new stake in shares of Philip Morris International during the 1st quarter worth $41,000. Howard Wealth Management LLC purchased a new stake in shares of Philip Morris International during the 4th quarter worth $43,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Philip Morris International during the 4th quarter worth $48,000. Finally, S.A. Mason LLC purchased a new stake in shares of Philip Morris International during the 4th quarter worth $49,000. Institutional investors and hedge funds own 74.02% of the company’s stock.
A number of equities research analysts recently weighed in on the company. Cowen upgraded Philip Morris International from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $90.00 to $102.00 in a research note on Thursday, February 13th. Panmure Gordon raised Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Friday, April 3rd. Goldman Sachs Group began coverage on Philip Morris International in a research report on Wednesday, April 1st. They set a “buy” rating and a $80.00 target price on the stock. UBS Group upped their target price on Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Finally, ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. Philip Morris International currently has an average rating of “Buy” and an average target price of $91.14.
In other news, insider Marc S. Firestone sold 22,000 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $86.27, for a total value of $1,897,940.00. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.22% of the stock is currently owned by corporate insiders.
Shares of PM stock traded down $0.05 during mid-day trading on Friday, reaching $70.45. The stock had a trading volume of 2,546,855 shares, compared to its average volume of 5,332,155. The business’s fifty day moving average is $73.12 and its 200-day moving average is $80.74. The firm has a market cap of $109.78 billion, a price-to-earnings ratio of 14.32, a PEG ratio of 2.15 and a beta of 0.79. Philip Morris International Inc. has a 1-year low of $56.01 and a 1-year high of $90.17.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.08. The business had revenue of $7.15 billion for the quarter, compared to analyst estimates of $6.87 billion. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The company’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. Analysts forecast that Philip Morris International Inc. will post 4.95 earnings per share for the current year.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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