Abound Financial LLC Acquires Shares of 1,650 Philip Morris International Inc. (NYSE:PM)

Abound Financial LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,650 shares of the company's stock, valued at approximately $262,000.

Several other institutional investors and hedge funds have also recently modified their holdings of PM. Pacifica Partners Inc. raised its holdings in shares of Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International during the 1st quarter valued at about $35,000. Knuff & Co LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at about $36,000. Ball & Co Wealth Management Inc. bought a new position in shares of Philip Morris International during the 4th quarter valued at about $36,000. Finally, Ameriflex Group Inc. bought a new position in shares of Philip Morris International during the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent research reports. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Bank of America increased 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. Citigroup increased 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. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Barclays restated an "overweight" rating and set a $220.00 price target (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Trading Up 1.3%

NYSE PM traded up $2.24 on Monday, hitting $181.12. The company's stock had a trading volume of 4,652,143 shares, compared to its average volume of 5,638,753. Philip Morris International Inc. has a 52-week low of $101.62 and a 52-week high of $186.69. The company's 50-day simple moving average is $177.14 and its 200 day simple moving average is $155.03. The firm has a market cap of $281.92 billion, a P/E ratio of 37.34, a PEG ratio of 2.59 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business's revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. On average, research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's payout ratio is presently 111.34%.

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.