1,803 Shares in Philip Morris International Inc. (NYSE:PM) Bought by Abacus Planning Group Inc.

Abacus Planning Group Inc. acquired a new stake in Philip Morris International Inc. (NYSE:PM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,803 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds also recently made changes to their positions in the company. Longfellow Investment Management Co. LLC grew its stake in Philip Morris International by 0.7% during the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock worth $1,306,000 after purchasing an additional 88 shares during the period. Dearborn Partners LLC increased its position in Philip Morris International by 3.2% in the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after buying an additional 89 shares in the last quarter. LRI Investments LLC increased its position in Philip Morris International by 1.5% in the 2nd quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock valued at $637,000 after buying an additional 92 shares in the last quarter. First Financial Bank Trust Division raised its stake in Philip Morris International by 3.9% during the 3rd quarter. First Financial Bank Trust Division now owns 2,524 shares of the company’s stock worth $306,000 after buying an additional 95 shares during the period. Finally, Cahill Financial Advisors Inc. boosted its holdings in Philip Morris International by 4.5% in the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock worth $232,000 after acquiring an additional 99 shares in the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Trading Down 1.0 %

PM stock opened at $118.35 on Friday. The firm has a market capitalization of $183.98 billion, a P/E ratio of 23.12, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $128.22. The firm has a 50 day moving average of $120.36 and a 200-day moving average of $106.28.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 EPS. Sell-side analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be issued a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio is presently 105.47%.

Insiders Place Their Bets

In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Analyst Ratings Changes

PM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus upped their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Barclays boosted their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, The Goldman Sachs Group boosted their target price on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $121.45.

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.