Abacus FCF Advisors LLC Cuts Stock Position in Philip Morris International Inc. $PM

Abacus FCF Advisors LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 31.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,416 shares of the company’s stock after selling 34,026 shares during the period. Abacus FCF Advisors LLC’s holdings in Philip Morris International were worth $12,070,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. PFS Partners LLC grew its stake in Philip Morris International by 24.8% in the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after purchasing an additional 58 shares in the last quarter. Uncommon Cents Investing LLC grew its stake in shares of Philip Morris International by 1.1% during the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after purchasing an additional 61 shares during the period. Second Line Capital LLC increased its position in shares of Philip Morris International by 4.8% in the second quarter. Second Line Capital LLC now owns 1,338 shares of the company’s stock valued at $245,000 after buying an additional 61 shares in the last quarter. Cranbrook Wealth Management LLC raised 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 valued at $185,000 after acquiring an additional 62 shares during the last quarter. Finally, Meridian Wealth Partners LLC grew its stake in Philip Morris International by 3.1% during the 2nd quarter. Meridian Wealth Partners LLC now owns 2,060 shares of the company’s stock valued at $375,000 after acquiring an additional 62 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.4%

PM opened at $161.76 on Tuesday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The company has a 50 day moving average of $154.23 and a two-hundred day moving average of $163.51. The company has a market cap of $251.81 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.93 and a beta of 0.42.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, December 26th. Philip Morris International’s dividend payout ratio is 106.52%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.