Janney Montgomery Scott LLC Lowers Stake in Philip Morris International Inc. (NYSE:PM)

Janney Montgomery Scott LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 566,336 shares of the company’s stock after selling 1,456 shares during the period. Janney Montgomery Scott LLC’s holdings in Philip Morris International were worth $68,753,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PM. Allen Wealth Management LLC purchased a new stake in Philip Morris International in the 3rd quarter worth approximately $224,000. Pure Financial Advisors LLC boosted its holdings in shares of Philip Morris International by 7.9% during the third quarter. Pure Financial Advisors LLC now owns 6,621 shares of the company’s stock worth $804,000 after purchasing an additional 482 shares during the last quarter. Private Wealth Partners LLC grew its position in shares of Philip Morris International by 5.4% in the third quarter. Private Wealth Partners LLC now owns 3,587 shares of the company’s stock valued at $435,000 after purchasing an additional 184 shares during the period. Optas LLC acquired a new position in Philip Morris International in the third quarter valued at $268,000. Finally, Chicago Partners Investment Group LLC increased its stake in Philip Morris International by 3.7% in the third quarter. Chicago Partners Investment Group LLC now owns 8,474 shares of the company’s stock valued at $1,114,000 after purchasing an additional 299 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on PM shares. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group upped their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Barclays upped their price objective on Philip Morris International from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.85.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,418 shares of company stock valued at $15,247,052. Corporate insiders own 0.13% of the company’s stock.

Philip Morris International Trading Down 1.5 %

Shares of Philip Morris International stock opened at $130.65 on Friday. Philip Morris International Inc. has a twelve month low of $87.82 and a twelve month high of $134.15. The stock has a market cap of $203.14 billion, a price-to-earnings ratio of 20.74, a price-to-earnings-growth ratio of 2.32 and a beta of 0.54. The company has a fifty day moving average price of $123.70 and a 200 day moving average price of $111.32.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.67 earnings per share. Analysts forecast that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.13%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Philip Morris International Profile

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.