Abacus FCF Advisors LLC Takes Position in Philip Morris International Inc. (NYSE:PM)

Abacus FCF Advisors LLC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 129,961 shares of the company’s stock, valued at approximately $20,629,000. Philip Morris International accounts for about 3.2% of Abacus FCF Advisors LLC’s investment portfolio, making the stock its 4th largest position.

A number of other hedge funds also recently made changes to their positions in PM. Capital & Planning LLC boosted its holdings in shares of Philip Morris International by 7.1% during the fourth quarter. Capital & Planning LLC now owns 2,613 shares of the company’s stock valued at $318,000 after acquiring an additional 173 shares during the period. Brighton Jones LLC boosted its holdings in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock valued at $1,027,000 after acquiring an additional 2,023 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock valued at $252,000 after acquiring an additional 91 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International during the fourth quarter valued at $3,637,000. Finally, Vest Financial LLC boosted its holdings in shares of Philip Morris International by 13.4% during the fourth quarter. Vest Financial LLC now owns 8,828 shares of the company’s stock valued at $1,062,000 after acquiring an additional 1,042 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

Shares of PM stock opened at $180.62 on Tuesday. The stock has a market cap of $281.13 billion, a P/E ratio of 40.05, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The stock has a fifty day moving average price of $168.30 and a 200 day moving average price of $148.04. Philip Morris International Inc. has a one year low of $98.93 and a one year high of $183.94.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter in the prior year, the company posted $1.50 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PM. Stifel Nicolaus boosted their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Barclays upped their price objective on shares of Philip Morris International from $175.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Needham & Company LLC assumed coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a “buy” rating for the company. Bank of America upped their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Finally, Citigroup upped their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $175.30.

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.