Forum Financial Management LP Boosts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Forum Financial Management LP raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 10.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,235 shares of the company's stock after purchasing an additional 1,379 shares during the quarter. Forum Financial Management LP's holdings in Philip Morris International were worth $2,260,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Philip Morris International by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after acquiring an additional 1,167,810 shares in the last quarter. Capital World Investors lifted its holdings in Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after buying an additional 4,216,586 shares during the period. GQG Partners LLC lifted its holdings in Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after buying an additional 6,092,558 shares during the period. Geode Capital Management LLC lifted its holdings in Philip Morris International by 9.9% during the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after buying an additional 3,185,258 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Philip Morris International by 3.1% during the 4th quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after buying an additional 516,617 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Stifel Nicolaus lifted 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. Barclays lifted their price objective on Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Citigroup lifted their price objective on Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Finally, Morgan Stanley reissued 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. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $186.73.

Philip Morris International Stock Performance

PM traded down $3.77 during midday trading on Thursday, reaching $179.51. 6,940,221 shares of the company were exchanged, compared to its average volume of 5,662,811. The company's fifty day moving average price is $178.49 and its 200 day moving average price is $157.75. The company has a market cap of $279.40 billion, a price-to-earnings ratio of 37.01, a price-to-earnings-growth ratio of 2.63 and a beta of 0.51. Philip Morris International Inc. has a one year low of $106.76 and a one year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 EPS. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend 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.