Forbes Financial Planning Inc. Buys New Stake in Philip Morris International Inc. $PM

Forbes Financial Planning Inc. bought a new position in Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,611 shares of the company’s stock, valued at approximately $658,000. Philip Morris International accounts for about 0.4% of Forbes Financial Planning Inc.’s portfolio, making the stock its 25th biggest position.

A number of other hedge funds also recently bought and sold shares of PM. PFS Partners LLC lifted its position in shares of Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after purchasing an additional 58 shares during the last quarter. Uncommon Cents Investing LLC increased its position in Philip Morris International by 1.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after buying an additional 61 shares during the period. NFP Retirement Inc. increased its position in Philip Morris International by 2.5% in the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after buying an additional 62 shares during the period. Cranbrook Wealth Management LLC lifted its holdings in shares of Philip Morris International by 6.5% during the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock worth $185,000 after buying an additional 62 shares during the last quarter. Finally, Renasant Bank boosted its position in shares of Philip Morris International by 3.3% in the first quarter. Renasant Bank now owns 1,994 shares of the company’s stock valued at $317,000 after acquiring an additional 63 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Up 1.0%

NYSE PM opened at $149.93 on Friday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock has a market cap of $233.39 billion, a P/E ratio of 27.16, a PEG ratio of 2.15 and a beta of 0.43. The company’s 50-day simple moving average is $158.58 and its 200 day simple moving average is $168.41.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $8.12 billion for the quarter. Research analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.9%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, UBS Group decreased their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

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.