Philip Morris International Inc. $PM Shares Acquired by Founders Grove Wealth Partners LLC

Founders Grove Wealth Partners LLC increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 21.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,881 shares of the company’s stock after purchasing an additional 690 shares during the quarter. Founders Grove Wealth Partners LLC’s holdings in Philip Morris International were worth $707,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PM. Abound Wealth Management lifted its holdings in shares of Philip Morris International by 566.7% during the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International during the first quarter worth $30,000. CBIZ Investment Advisory Services LLC raised its position in Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new position in Philip Morris International in the first quarter worth $34,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Philip Morris International in the first quarter worth $35,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Down 0.7%

Philip Morris International stock opened at $159.31 on Tuesday. The stock has a market cap of $247.99 billion, a PE ratio of 30.29, a P/E/G ratio of 2.34 and a beta of 0.46. The stock has a 50-day moving average price of $164.17 and a 200 day moving average price of $168.90. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is 111.79%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays cut their price objective on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. UBS Group dropped their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. raised their price target on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research report on Thursday, July 10th. Finally, Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Eleven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $195.44.

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.