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

Founders Grove Wealth Partners LLC boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 21.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,881 shares of the company’s stock after buying an additional 690 shares during the period. Founders Grove Wealth Partners LLC’s holdings in Philip Morris International were worth $707,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PM. Abound Wealth Management lifted its stake in shares of Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in shares of Philip Morris International in the 1st quarter valued at about $30,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Philip Morris International by 405.0% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after purchasing an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Philip Morris International in the 1st quarter valued at about $34,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Philip Morris International during the 1st quarter valued at about $35,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PM. Jefferies Financial Group began coverage on Philip Morris International in a report on Wednesday, July 9th. They set a “buy” rating and a $220.00 target price on the stock. Barclays dropped their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. KGI Securities began coverage on Philip Morris International in a report on Monday, August 4th. They set an “outperform” rating on the stock. UBS Group dropped their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. Finally, 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 report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $195.44.

Philip Morris International Trading Down 0.7%

Shares of NYSE PM opened at $159.31 on Tuesday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The company has a market capitalization of $247.99 billion, a price-to-earnings ratio of 30.29, a price-to-earnings-growth ratio of 2.34 and a beta of 0.46. The business has a 50 day simple moving average of $164.17 and a 200-day simple moving average of $168.90.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results 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 120.86% and a net margin of 9.03%.The business had revenue of $8.12 billion during the quarter. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 111.79%.

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.