Forbes Financial Planning Inc. Makes New Investment in Philip Morris International Inc. $PM

Forbes Financial Planning Inc. bought a new stake in Philip Morris International Inc. (NYSE:PM) in the second quarter, Holdings Channel reports. The institutional investor bought 3,611 shares of the company’s stock, valued at approximately $658,000. Philip Morris International comprises about 0.4% of Forbes Financial Planning Inc.’s holdings, making the stock its 25th biggest holding.

Other large investors have also bought and sold shares of the company. Abound Wealth Management boosted its stake in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International in the first quarter valued at about $30,000. Briaud Financial Planning Inc lifted its position in Philip Morris International by 266.7% during the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after buying an additional 120 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its position in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after buying an additional 162 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new stake in Philip Morris International during the 1st quarter worth about $34,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

NYSE PM opened at $149.93 on Friday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The business has a 50 day simple moving average of $158.58 and a 200 day simple moving average of $168.41. The stock has a market cap of $233.39 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.15 and a beta of 0.43.

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

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend 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 is presently 106.52%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PM. Barclays dropped their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. boosted their price objective 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. UBS Group reduced their price objective 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, The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.