Fortitude Family Office LLC Has $96,000 Stake in Philip Morris International Inc. (NYSE:PM)

Fortitude Family Office LLC trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 70.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 606 shares of the company’s stock after selling 1,479 shares during the period. Fortitude Family Office LLC’s holdings in Philip Morris International were worth $96,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Philip Morris International by 0.8% during 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 during the period. Capital World Investors lifted its holdings in shares of Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock worth $14,752,926,000 after buying an additional 4,216,586 shares during the last quarter. GQG Partners LLC boosted its position in shares of Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock valued at $5,866,678,000 after acquiring an additional 6,092,558 shares during the period. Geode Capital Management LLC grew its stake in shares of Philip Morris International by 9.9% in 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 last quarter. Finally, Wellington Management Group LLP grew its stake in shares of 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 during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Up 2.4%

NYSE PM 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. Philip Morris International Inc. has a 1-year low of $98.93 and a 1-year high of $183.94. The company has a 50 day moving average of $169.29 and a 200-day moving average of $148.50.

Philip Morris International (NYSE:PM) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS 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 for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the prior year, the business earned $1.50 earnings per share. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Wall Street Analyst Weigh In

PM has been the subject of several research analyst reports. Stifel Nicolaus upped their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a research note on Thursday, April 24th. Morgan Stanley reiterated an “overweight” rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Citigroup boosted their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Barclays raised 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. Finally, Bank of America lifted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $175.30.

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.