Janney Montgomery Scott LLC grew its stake in Philip Morris International Inc. (NYSE:PM) by 16.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 379,848 shares of the company’s stock after buying an additional 54,589 shares during the period. Janney Montgomery Scott LLC’s holdings in Philip Morris International were worth $30,973,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of PM. Shine Investment Advisory Services Inc. boosted its stake in Philip Morris International by 90.7% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after purchasing an additional 592 shares during the period. Landaas & Co. WI ADV acquired a new stake in Philip Morris International during the 2nd quarter worth $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Philip Morris International during the 2nd quarter worth $108,000. BerganKDV Wealth Management LLC acquired a new stake in Philip Morris International during the 2nd quarter worth $123,000. Finally, Norway Savings Bank boosted its stake in Philip Morris International by 337.5% during the 2nd quarter. Norway Savings Bank now owns 1,750 shares of the company’s stock worth $141,000 after purchasing an additional 1,350 shares during the period. Institutional investors and hedge funds own 72.76% of the company’s stock.
A number of analysts recently weighed in on the stock. ValuEngine upgraded shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Societe Generale set a $95.00 target price on shares of Philip Morris International and gave the stock a “hold” rating in a research note on Monday, October 22nd. Stifel Nicolaus reduced their target price on shares of Philip Morris International from $100.00 to $93.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Finally, JPMorgan Chase & Co. cut shares of Philip Morris International from an “overweight” rating to a “neutral” rating in a research note on Friday, July 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $98.08.
PM stock opened at $89.18 on Friday. Philip Morris International Inc. has a one year low of $76.21 and a one year high of $111.25. The firm has a market capitalization of $138.46 billion, a PE ratio of 17.26, a PEG ratio of 2.04 and a beta of 0.58.
Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.16. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The company had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.16 billion. During the same quarter last year, the business earned $1.27 EPS. The business’s revenue was up .4% on a year-over-year basis. Equities research analysts expect that Philip Morris International Inc. will post 5.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 12th. Stockholders of record on Wednesday, September 26th were paid a $1.14 dividend. This represents a $4.56 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend was Tuesday, September 25th. Philip Morris International’s dividend payout ratio (DPR) is presently 92.49%.
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Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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