Philip Morris International Inc. $PM Shares Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. boosted its stake in Philip Morris International Inc. (NYSE:PM) by 234.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,403 shares of the company’s stock after purchasing an additional 20,608 shares during the period. Jefferies Financial Group Inc.’s holdings in Philip Morris International were worth $5,611,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Silver Grove Financial Group Inc. increased its stake in shares of Philip Morris International by 3.0% during the third quarter. Silver Grove Financial Group Inc. now owns 1,896 shares of the company’s stock valued at $362,000 after purchasing an additional 55 shares in the last quarter. Bahl & Gaynor LLC bought a new position in Philip Morris International in the third quarter valued at about $113,137,000. Letson Investment Management Inc. boosted its stake in shares of Philip Morris International by 1.1% during the 3rd quarter. Letson Investment Management Inc. now owns 16,174 shares of the company’s stock worth $3,086,000 after acquiring an additional 170 shares during the last quarter. Confluence Wealth Services Inc. grew its stake in shares of Philip Morris International by 14.8% during the 3rd quarter. Confluence Wealth Services Inc. now owns 32,563 shares of the company’s stock valued at $6,214,000 after acquiring an additional 4,193 shares during the period. Finally, AMG National Trust Bank increased its stake in Philip Morris International by 1.4% in the 3rd quarter. AMG National Trust Bank now owns 7,246 shares of the company’s stock worth $1,383,000 after buying an additional 98 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on PM shares. Citigroup increased their price objective on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Barclays increased their target price on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Morgan Stanley raised their price target on Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Stifel Nicolaus upped their target price on shares of Philip Morris International from $205.00 to $232.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. started coverage on Philip Morris International in a report on Tuesday. They issued a “neutral” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Price Performance

Shares of PM opened at $197.42 on Friday. The company’s fifty day moving average price is $196.09 and its 200-day moving average price is $183.28. Philip Morris International Inc. has a 1-year low of $146.35 and a 1-year high of $214.35. The firm has a market capitalization of $307.71 billion, a PE ratio of 28.82, a price-to-earnings-growth ratio of 2.63 and a beta of 0.34.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.06. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $11.32 billion. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the business posted $2.24 EPS. As a group, research analysts anticipate that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a dividend of $1.60 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $6.40 annualized dividend and a dividend yield of 3.2%. Philip Morris International’s payout ratio is presently 93.43%.

About Philip Morris International

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.