GM Advisory Group Inc. purchased a new stake in Philip Morris International Inc. (NYSE:PM) during the 1st quarter, HoldingsChannel reports. The fund purchased 17,363 shares of the company’s stock, valued at approximately $1,267,000.

Several other large investors have also added to or reduced their stakes in PM. Parallel Advisors LLC increased its position in shares of Philip Morris International by 78.9% during the 4th quarter. Parallel Advisors LLC now owns 17,141 shares of the company’s stock valued at $1,458,000 after purchasing an additional 7,559 shares during the last quarter. Savant Capital LLC increased its position in shares of Philip Morris International by 6.3% during the 4th quarter. Savant Capital LLC now owns 9,417 shares of the company’s stock valued at $801,000 after purchasing an additional 561 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of Philip Morris International by 4.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 8,035 shares of the company’s stock valued at $684,000 after purchasing an additional 320 shares during the last quarter. Ledyard National Bank increased its position in shares of Philip Morris International by 1.6% during the 4th quarter. Ledyard National Bank now owns 16,416 shares of the company’s stock valued at $1,397,000 after purchasing an additional 265 shares during the last quarter. Finally, Cortland Associates Inc. MO increased its position in shares of Philip Morris International by 18.1% during the 4th quarter. Cortland Associates Inc. MO now owns 18,931 shares of the company’s stock valued at $1,611,000 after purchasing an additional 2,897 shares during the last quarter. 74.69% of the stock is currently owned by hedge funds and other institutional investors.

PM has been the topic of several recent research reports. Cowen upgraded Philip Morris International from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $90.00 to $102.00 in a research report on Thursday, February 13th. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. UBS Group increased their price objective on Philip Morris International from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Citigroup reduced their price target on Philip Morris International from $90.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Finally, Morgan Stanley reduced their price target on Philip Morris International from $99.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Philip Morris International currently has a consensus rating of “Buy” and an average target price of $91.14.

Shares of PM stock traded up $0.68 during trading hours on Wednesday, reaching $74.41. The company’s stock had a trading volume of 3,545,881 shares, compared to its average volume of 5,006,992. The stock has a market capitalization of $114.81 billion, a P/E ratio of 15.12, a P/E/G ratio of 2.28 and a beta of 0.77. Philip Morris International Inc. has a one year low of $56.01 and a one year high of $90.17. The firm’s fifty day simple moving average is $72.69 and its 200 day simple moving average is $80.12.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, April 21st. The company reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.08. The firm had revenue of $7.15 billion for the quarter, compared to analyst estimates of $6.87 billion. Philip Morris International had a negative return on equity of 84.38% and a net margin of 9.75%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. Analysts expect that Philip Morris International Inc. will post 4.89 earnings per share for the current year.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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