Philip Morris International Inc. (NYSE:PM) Shares Sold by Thrive Wealth Management LLC

Thrive Wealth Management LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 4.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,783 shares of the company’s stock after selling 307 shares during the period. Thrive Wealth Management LLC’s holdings in Philip Morris International were worth $1,077,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. Omnia Family Wealth LLC boosted its stake in Philip Morris International by 1.7% during the fourth quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company’s stock worth $469,000 after buying an additional 65 shares in the last quarter. Meridian Wealth Partners LLC grew its stake in Philip Morris International by 4.1% during the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company’s stock worth $214,000 after buying an additional 70 shares during the last quarter. NewSquare Capital LLC boosted its stake in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Philip Morris International by 2.1% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 3,628 shares of the company’s stock worth $437,000 after acquiring an additional 73 shares during the last quarter. Finally, Balboa Wealth Partners increased its holdings in shares of Philip Morris International by 2.0% in the fourth quarter. Balboa Wealth Partners now owns 3,712 shares of the company’s stock valued at $447,000 after purchasing an additional 74 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Barclays boosted their price target on Philip Morris International from $175.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Stifel Nicolaus increased their price objective on Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $175.30.

Philip Morris International Stock Down 1.1%

PM stock opened at $180.39 on Thursday. The firm has a market cap of $280.78 billion, a P/E ratio of 40.00, a P/E/G ratio of 2.65 and a beta of 0.52. The company’s 50-day moving average price is $166.88 and its two-hundred day moving average price is $146.75. Philip Morris International Inc. has a 12 month low of $98.93 and a 12 month high of $183.94.

Philip Morris International (NYSE:PM) last released 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 analysts’ expectations of $9.10 billion. During the same period in the prior year, the company earned $1.50 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current 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.