Philip Morris International Inc. (NYSE:PM) Shares Sold by Beacon Financial Group

Beacon Financial Group reduced its stake in Philip Morris International Inc. (NYSE:PM) by 3.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,363 shares of the company’s stock after selling 569 shares during the quarter. Beacon Financial Group’s holdings in Philip Morris International were worth $2,280,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Philip Morris International by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company’s stock valued at $16,780,688,000 after purchasing an additional 1,167,810 shares in the last quarter. Capital World Investors boosted its stake in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after buying an additional 4,216,586 shares in the last quarter. GQG Partners LLC grew its holdings in Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock worth $5,866,678,000 after acquiring an additional 6,092,558 shares during the period. Geode Capital Management LLC grew its holdings in Philip Morris International by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock worth $4,241,837,000 after acquiring an additional 3,185,258 shares during the period. Finally, Wellington Management Group LLP raised its position in Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company’s stock worth $2,079,262,000 after acquiring an additional 516,617 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Needham & Company LLC initiated coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a “buy” rating for the company. Citigroup boosted their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and increased their target price for the company from $130.00 to $170.00 in a report 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, Bank of America raised their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $175.30.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $180.39 on Thursday. Philip Morris International Inc. has a 1 year low of $98.93 and a 1 year high of $183.94. The business has a 50 day moving average price of $166.88 and a 200 day moving average price of $146.75. The company has a market capitalization 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.

Philip Morris International (NYSE:PM) last released its quarterly 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 company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter last year, the business posted $1.50 earnings per share. Philip Morris International’s revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Company 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.