Inceptionr LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 26.9% during the fourth quarter, HoldingsChannel reports. The firm owned 8,726 shares of the company’s stock after selling 3,214 shares during the quarter. Inceptionr LLC’s holdings in Philip Morris International were worth $1,400,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Dogwood Wealth Management LLC raised its stake in shares of Philip Morris International by 96.5% during the 3rd quarter. Dogwood Wealth Management LLC now owns 167 shares of the company’s stock worth $27,000 after purchasing an additional 82 shares in the last quarter. Richards Merrill & Peterson Inc. bought a new stake in shares of Philip Morris International during the 4th quarter worth approximately $28,000. Entrust Financial LLC bought a new stake in shares of Philip Morris International during the 4th quarter worth approximately $31,000. Measured Wealth Private Client Group LLC bought a new stake in Philip Morris International in the 3rd quarter valued at $32,000. Finally, FNY Investment Advisers LLC bought a new stake in Philip Morris International in the 3rd quarter valued at $33,000. Institutional investors own 78.63% of the company’s stock.
Philip Morris International Trading Up 2.5%
PM opened at $183.01 on Thursday. The stock’s fifty day simple moving average is $171.77 and its 200 day simple moving average is $169.52. Philip Morris International Inc. has a 1-year low of $142.11 and a 1-year high of $193.05. The stock has a market cap of $285.23 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.06 and a beta of 0.38.
Analyst Upgrades and Downgrades
PM has been the topic of a number of research analyst reports. UBS Group dropped their price target on Philip Morris International from $181.50 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, April 17th. Morgan Stanley increased their price target on Philip Morris International from $190.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Stifel Nicolaus dropped their price target on Philip Morris International from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. Finally, Bank of America restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $192.88.
View Our Latest Analysis on Philip Morris International
Philip Morris International Profile
Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.
PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.
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