Able Wealth Management LLC Acquires Shares of 1,272 Philip Morris International Inc. (NYSE:PM)

Able Wealth Management LLC purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,272 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors and hedge funds have also modified their holdings of PM. NewSquare Capital LLC boosted its holdings in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares during the last quarter. Pacifica Partners Inc. boosted its stake 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 worth $35,000 after buying an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of Philip Morris International in the first quarter worth $35,000. Knuff & Co LLC purchased a new stake in Philip Morris International during the fourth quarter valued at $36,000. Finally, Ball & Co Wealth Management Inc. bought a new position in Philip Morris International in the fourth quarter valued at about $36,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE PM opened at $176.03 on Thursday. Philip Morris International Inc. has a 1-year low of $100.80 and a 1-year high of $186.69. The business has a 50 day simple moving average of $176.79 and a two-hundred day simple moving average of $153.86. The stock has a market capitalization of $273.99 billion, a PE ratio of 36.29, a P/E/G ratio of 2.57 and a beta of 0.51.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results 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. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the previous year, the business posted $1.50 earnings per share. Philip Morris International’s quarterly revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International’s payout ratio is 111.34%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PM shares. Needham & Company LLC began coverage on Philip Morris International in a research note on Thursday, May 22nd. They set a “buy” rating for the company. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Saturday, June 21st. UBS Group raised Philip Morris International from a “sell” rating to a “neutral” rating and boosted their price target for the company from $130.00 to $170.00 in a report on Friday, April 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Barclays reaffirmed an “overweight” rating and set a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $176.80.

Philip Morris International 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.