Philip Morris International Inc. (NYSE:PM) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.6% during the first quarter, HoldingsChannel.com reports. The firm owned 529,813 shares of the company’s stock after selling 31,571 shares during the period. Janney Montgomery Scott LLC’s holdings in Philip Morris International were worth $84,097,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PM. NewSquare Capital LLC raised its position in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after buying an additional 72 shares during the period. Pacifica Partners Inc. increased its stake in Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the last quarter. Knuff & Co LLC purchased a new position in shares of Philip Morris International in the 4th quarter worth about $36,000. Ball & Co Wealth Management Inc. acquired a new position in shares of Philip Morris International in the 4th quarter valued at about $36,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several research reports. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, June 4th. UBS Group raised shares of Philip Morris International from a “sell” rating to a “neutral” rating and raised their target price for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Barclays lifted their target price on shares of Philip Morris International from $205.00 to $220.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus increased their price target on Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Finally, Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price of $176.80.

Philip Morris International Price Performance

Philip Morris International stock opened at $184.01 on Monday. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $185.55. The company has a market capitalization of $286.41 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 2.65 and a beta of 0.52. The firm’s fifty day moving average price is $170.67 and its 200 day moving average price is $149.47.

Philip Morris International (NYSE:PM) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period last year, the firm earned $1.50 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.93%. Philip Morris International’s dividend payout ratio is presently 111.34%.

About Philip Morris International

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.