Florida Financial Advisors LLC Grows Position in Philip Morris International Inc. (NYSE:PM)

Florida Financial Advisors LLC lifted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 73.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,076 shares of the company's stock after acquiring an additional 3,430 shares during the quarter. Florida Financial Advisors LLC's holdings in Philip Morris International were worth $1,282,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after buying an additional 115 shares during the period. Redmont Wealth Advisors LLC purchased a new position in Philip Morris International in the 1st quarter worth about $35,000. Inlight Wealth Management LLC purchased a new position in Philip Morris International in the 1st quarter worth about $38,000. Ameriflex Group Inc. purchased a new position in Philip Morris International in the 4th quarter worth about $36,000. Finally, Hughes Financial Services LLC purchased a new position in Philip Morris International in the 1st quarter worth about $46,000. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target on the stock. Morgan Stanley reissued an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Bank of America raised their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $186.73.

Philip Morris International Stock Down 2.1%

Shares of Philip Morris International stock traded down $3.77 on Thursday, reaching $179.51. The stock had a trading volume of 6,940,221 shares, compared to its average volume of 5,662,811. The company has a 50 day moving average price of $178.64 and a 200 day moving average price of $158.16. Philip Morris International Inc. has a 1 year low of $106.76 and a 1 year high of $186.69. The stock has a market capitalization of $279.40 billion, a P/E ratio of 37.01, a P/E/G ratio of 2.63 and a beta of 0.51.

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 net margin of 8.43% and a negative return on equity of 122.40%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.01%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.

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.