Allen Mooney & Barnes Investment Advisors LLC Sells 1,454 Shares of Philip Morris International Inc. (NYSE:PM)

Allen Mooney & Barnes Investment Advisors LLC cut its position in shares of Philip Morris International Inc. (NYSE:PM) by 17.6% during the 1st quarter, HoldingsChannel reports. The firm owned 6,793 shares of the company’s stock after selling 1,454 shares during the period. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Philip Morris International were worth $1,078,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. grew its position in shares of Philip Morris International by 3.4% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 592,171 shares of the company’s stock worth $93,995,000 after buying an additional 19,370 shares during the period. Kelly Financial Services LLC lifted its position in Philip Morris International by 12.9% during the 1st quarter. Kelly Financial Services LLC now owns 2,061 shares of the company’s stock valued at $327,000 after acquiring an additional 235 shares during the period. Fifth Third Bancorp boosted its stake in Philip Morris International by 7.0% during the first quarter. Fifth Third Bancorp now owns 542,502 shares of the company’s stock worth $86,111,000 after acquiring an additional 35,561 shares in the last quarter. Simon Quick Advisors LLC grew its holdings in Philip Morris International by 20.5% in the first quarter. Simon Quick Advisors LLC now owns 13,961 shares of the company’s stock worth $2,216,000 after purchasing an additional 2,373 shares during the period. Finally, Zhang Financial LLC increased its stake in shares of Philip Morris International by 1.5% during the first quarter. Zhang Financial LLC now owns 11,637 shares of the company’s stock valued at $1,847,000 after purchasing an additional 170 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Morgan Stanley reissued an “overweight” rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Argus upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Friday, March 14th. Bank of America raised their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, June 4th. Citigroup lifted their target price 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. Finally, JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.30.

Philip Morris International Stock Performance

PM opened at $183.29 on Thursday. The company’s 50-day simple moving average is $169.29 and its two-hundred day simple moving average is $148.50. The stock has a market capitalization of $285.29 billion, a P/E ratio of 40.64, a P/E/G ratio of 2.65 and a beta of 0.52. 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) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 earnings per share. Research analysts forecast 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.