Kelly Financial Services LLC Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Kelly Financial Services LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 12.9% in the first quarter, HoldingsChannel reports. The firm owned 2,061 shares of the company’s stock after purchasing an additional 235 shares during the quarter. Kelly Financial Services LLC’s holdings in Philip Morris International were worth $327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NewSquare Capital LLC grew its holdings in shares of Philip Morris International by 53.7% in the fourth 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. grew 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 valued at $35,000 after purchasing an additional 115 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of Philip Morris International in the fourth quarter valued at $36,000. McClarren Financial Advisors Inc. purchased a new position in shares of Philip Morris International in the fourth quarter valued at $33,000. Finally, Knuff & Co LLC purchased a new position in shares of Philip Morris International in the fourth quarter valued at $36,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup lifted their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Barclays lifted their target price on Philip Morris International from $175.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Bank of America upped their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Finally, UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $130.00 to $170.00 in a research note on Friday, April 25th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.30.

Philip Morris International Stock Performance

PM stock opened at $183.29 on Thursday. The firm has a market cap of $285.29 billion, a price-to-earnings ratio of 40.64, a PEG ratio of 2.65 and a beta of 0.52. The firm has a 50-day simple moving average of $169.29 and a two-hundred day simple moving average of $148.50. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $183.94.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion during 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 company’s quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 earnings per share. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal 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.