Philip Morris International Inc. (PM) Position Raised by Bank of Montreal Can

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Bank of Montreal Can increased its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 114.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,042,858 shares of the company’s stock after purchasing an additional 2,158,192 shares during the period. Bank of Montreal Can’s holdings in Philip Morris International were worth $329,655,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PM. Shine Investment Advisory Services Inc. boosted its position in shares of Philip Morris International by 90.7% during the second quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock valued at $101,000 after buying an additional 592 shares during the last quarter. BKD Wealth Advisors LLC boosted its position in shares of Philip Morris International by 5.0% during the second quarter. BKD Wealth Advisors LLC now owns 13,174 shares of the company’s stock valued at $1,064,000 after buying an additional 625 shares during the last quarter. Pictet & Cie Europe SA boosted its position in shares of Philip Morris International by 7.3% during the second quarter. Pictet & Cie Europe SA now owns 9,173 shares of the company’s stock valued at $741,000 after buying an additional 627 shares during the last quarter. InterOcean Capital LLC boosted its position in shares of Philip Morris International by 11.3% during the second quarter. InterOcean Capital LLC now owns 6,274 shares of the company’s stock valued at $507,000 after buying an additional 636 shares during the last quarter. Finally, Strategic Financial Group LLC boosted its position in shares of Philip Morris International by 20.7% during the second quarter. Strategic Financial Group LLC now owns 3,732 shares of the company’s stock valued at $301,000 after buying an additional 639 shares during the last quarter. 72.73% of the stock is owned by institutional investors and hedge funds.

PM has been the topic of several analyst reports. Stifel Nicolaus cut their target price on Philip Morris International from $100.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, July 20th. Citigroup set a $90.00 target price on Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $93.00 target price on shares of Philip Morris International in a research report on Friday, July 13th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research report on Wednesday, July 25th. Finally, Piper Jaffray Companies set a $99.00 target price on Philip Morris International and gave the company a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $98.00.

Shares of Philip Morris International stock opened at $82.31 on Friday. The firm has a market cap of $126.75 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 1.81 and a beta of 0.79. Philip Morris International Inc. has a 12 month low of $76.21 and a 12 month high of $115.15. The company has a debt-to-equity ratio of -2.76, a quick ratio of 0.64 and a current ratio of 1.15.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 19th. The company reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.18. The business had revenue of $7.73 billion for the quarter, compared to analyst estimates of $7.53 billion. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. Philip Morris International’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $1.14 earnings per share. Research analysts anticipate that Philip Morris International Inc. will post 5.01 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were issued a dividend of $1.14 per share. The ex-dividend date of this dividend was Tuesday, September 25th. This represents a $4.56 dividend on an annualized basis and a yield of 5.54%. Philip Morris International’s dividend payout ratio (DPR) is currently 92.49%.

About Philip Morris International

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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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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