Philip Morris International Inc. (NYSE:PM) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its position in Philip Morris International Inc. (NYSE:PM) by 98.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97 shares of the company’s stock after selling 5,822 shares during the quarter. Sheets Smith Wealth Management’s holdings in Philip Morris International were worth $480,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new position in Philip Morris International in the 4th quarter worth $29,000. Stone House Investment Management LLC bought a new stake in shares of Philip Morris International in the 1st quarter worth about $29,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Philip Morris International in the 1st quarter worth about $32,000. Barrett & Company Inc. bought a new stake in shares of Philip Morris International in the 1st quarter worth about $32,000. Finally, FSC Wealth Advisors LLC increased its position in shares of Philip Morris International by 75.0% in the 1st quarter. FSC Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock.

Philip Morris International Stock Performance

Shares of PM stock opened at $93.67 on Monday. Philip Morris International Inc. has a 52-week low of $82.85 and a 52-week high of $105.62. The stock has a market cap of $145.41 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 1.95 and a beta of 0.71. The firm has a fifty day moving average of $96.75 and a 200-day moving average of $96.15.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 20th. The company reported $1.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.10. The business had revenue of $8.97 billion during the quarter, compared to analysts’ expectations of $8.76 billion. Philip Morris International had a net margin of 11.63% and a negative return on equity of 127.84%. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. On average, sell-side analysts predict that Philip Morris International Inc. will post 6.2 earnings per share for the current year.

Wall Street Analyst Weigh In

PM has been the subject of several recent analyst reports. 22nd Century Group restated a “reiterates” rating on shares of Philip Morris International in a research report on Tuesday, June 27th. Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $109.00 to $117.00 in a report on Tuesday, June 20th. Jefferies Financial Group cut their price target on shares of Philip Morris International from $113.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. Finally, StockNews.com began coverage on shares of Philip Morris International in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $110.70.

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.