Simplicity Wealth LLC Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Simplicity Wealth LLC reduced its position in Philip Morris International Inc. (NYSE:PM) by 8.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,968 shares of the company’s stock after selling 372 shares during the quarter. Simplicity Wealth LLC’s holdings in Philip Morris International were worth $630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. NewSquare Capital LLC boosted its holdings in Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after acquiring an additional 72 shares during the period. Pacifica Partners Inc. boosted its holdings in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the period. Ameriflex Group Inc. purchased a new stake in Philip Morris International during the 4th quarter valued at about $36,000. McClarren Financial Advisors Inc. purchased a new stake in Philip Morris International during the 4th quarter valued at about $33,000. Finally, Knuff & Co LLC purchased a new stake in Philip Morris International during the 4th quarter valued at about $36,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on PM. Stifel Nicolaus increased their target price on Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. UBS Group upgraded Philip Morris International from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Citigroup increased their price objective on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Finally, Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.30.

Philip Morris International Trading Up 2.4%

Philip Morris International 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 stock has a fifty day simple moving average of $169.29 and a two-hundred day simple moving average of $148.50. 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 posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 120.08% and a net margin of 7.89%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 EPS. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International 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.