Abacus FCF Advisors LLC Buys Shares of 129,961 Philip Morris International Inc. (NYSE:PM)

Abacus FCF Advisors LLC bought a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 129,961 shares of the company's stock, valued at approximately $20,629,000. Philip Morris International accounts for about 3.2% of Abacus FCF Advisors LLC's portfolio, making the stock its 4th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Capital & Planning LLC lifted its stake in Philip Morris International by 7.1% during the fourth quarter. Capital & Planning LLC now owns 2,613 shares of the company's stock worth $318,000 after purchasing an additional 173 shares during the last quarter. Brighton Jones LLC raised its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after purchasing an additional 2,023 shares during the period. Revolve Wealth Partners LLC raised its stake in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after purchasing an additional 91 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International during the fourth quarter worth approximately $3,637,000. Finally, Vest Financial LLC lifted its holdings in shares of Philip Morris International by 13.4% during the 4th quarter. Vest Financial LLC now owns 8,828 shares of the company's stock valued at $1,062,000 after buying an additional 1,042 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Stifel Nicolaus upped their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Trading Up 0.3%

NYSE:PM traded up $0.61 on Thursday, hitting $183.98. The company's stock had a trading volume of 4,922,254 shares, compared to its average volume of 6,092,938. The firm has a market capitalization of $286.37 billion, a P/E ratio of 40.79, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $184.10. The stock has a fifty day moving average of $169.29 and a two-hundred day moving average of $148.50.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The business's revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

About Philip Morris International

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.