Relative Value Partners Group LLC Sells 186 Shares of Philip Morris International Inc. (NYSE:PM)

Posted by Defense World Staff on Sep 10th, 2023

Relative Value Partners Group LLC reduced its position in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,061 shares of the company’s stock after selling 186 shares during the period. Relative Value Partners Group LLC’s holdings in Philip Morris International were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PM. Optiver Holding B.V. acquired a new position in shares of Philip Morris International in the fourth quarter worth approximately $29,000. Stone House Investment Management LLC acquired a new position in shares of Philip Morris International in the first quarter worth approximately $29,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Philip Morris International in the first quarter worth approximately $32,000. Barrett & Company Inc. acquired a new position in shares of Philip Morris International in the first quarter worth approximately $32,000. Finally, FSC Wealth Advisors LLC lifted its stake in shares of Philip Morris International by 75.0% in the first quarter. FSC Wealth Advisors LLC now owns 350 shares of the company’s stock worth $34,000 after acquiring an additional 150 shares during the period. 79.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PM. 22nd Century Group reissued a “reiterates” rating on shares of Philip Morris International in a research note on Tuesday, June 27th. Jefferies Financial Group dropped their price target on Philip Morris International from $113.00 to $111.00 and set a “buy” rating on the stock in a research note on Tuesday, August 22nd. Citigroup raised 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 research note on Tuesday, June 20th. Finally, StockNews.com began coverage on Philip Morris International in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.70.

Check Out Our Latest Stock Report on PM

Philip Morris International Stock Up 0.4 %

Shares of NYSE:PM opened at $93.67 on Friday. Philip Morris International Inc. has a twelve month low of $82.85 and a twelve month high of $105.62. The stock’s 50 day moving average is $96.75 and its 200-day moving average is $96.18. The firm has a market capitalization of $145.41 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 1.95 and a beta of 0.71.

Philip Morris International (NYSE:PM – Get Free Report) last issued its earnings results on Thursday, July 20th. The company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.10. Philip Morris International had a negative return on equity of 127.84% and a net margin of 11.63%. The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.76 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. Philip Morris International’s revenue for the quarter was up 14.5% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International Inc. will post 6.2 earnings per share for the current fiscal year.

Philip Morris International Company Profile

(Free Report)

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.