Philip Morris International Inc. (PM) Shares Bought by Janney Montgomery Scott LLC

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Janney Montgomery Scott LLC increased its stake in Philip Morris International Inc. (NYSE:PM) by 16.8% in the third quarter, HoldingsChannel reports. The firm owned 379,848 shares of the company’s stock after acquiring an additional 54,589 shares during the quarter. 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 and hedge funds also recently made changes to their positions in PM. Alerus Financial NA grew its holdings in shares of Philip Morris International by 11.3% during the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock worth $7,058,000 after buying an additional 8,897 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Philip Morris International by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock worth $16,235,000 after buying an additional 20,196 shares in the last quarter. Zacks Investment Management grew its holdings in shares of Philip Morris International by 7.4% during the second quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock worth $42,569,000 after buying an additional 36,303 shares in the last quarter. IMA Wealth Inc. purchased a new stake in shares of Philip Morris International during the second quarter worth about $149,000. Finally, Jupiter Asset Management Ltd. grew its holdings in shares of Philip Morris International by 102.3% during the second quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock worth $5,879,000 after buying an additional 36,816 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

PM opened at $89.18 on Friday. Philip Morris International Inc. has a 1 year low of $76.21 and a 1 year high of $111.25. The company has a market capitalization of $138.46 billion, a P/E ratio of 17.26, a P/E/G 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 earnings per share (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 business had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.16 billion. During the same period last year, the company earned $1.27 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Analysts anticipate that Philip Morris International Inc. will post 5.01 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were given a $1.14 dividend. The ex-dividend date of this dividend was Tuesday, September 25th. This represents a $4.56 annualized dividend and a dividend yield of 5.11%. Philip Morris International’s dividend payout ratio is presently 92.49%.

A number of brokerages have recently commented on PM. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Societe Generale set a $95.00 price target on shares of Philip Morris International and gave the stock a “hold” rating in a report on Monday, October 22nd. ValuEngine upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Thursday, October 18th. Citigroup lifted their price target on shares of Philip Morris International from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, October 19th. Finally, Piper Jaffray Companies set a $99.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the company. Philip Morris International presently has a consensus rating of “Buy” and a consensus target price of $98.08.

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Philip Morris International Company 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.

Further Reading: How Do Tariffs Affect Trade Balances?

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

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