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

Janney Montgomery Scott LLC cut its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 5.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 529,813 shares of the company's stock after selling 31,571 shares during the quarter. Janney Montgomery Scott LLC's holdings in Philip Morris International were worth $84,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Philip Morris International by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock valued at $16,780,688,000 after acquiring an additional 1,167,810 shares during the period. Capital World Investors lifted its stake in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the period. GQG Partners LLC boosted its holdings in Philip Morris International by 14.3% during the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Philip Morris International by 9.9% during the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after buying an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Philip Morris International by 3.1% during the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock worth $2,079,262,000 after buying an additional 516,617 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PM. JPMorgan Chase & Co. boosted their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Morgan Stanley reiterated an "overweight" rating and set a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and upped their target price for the company from $130.00 to $170.00 in a report on Friday, April 25th. Bank of America lifted their price target on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, Barclays boosted their price objective on shares of Philip Morris International from $205.00 to $220.00 and gave the stock an "overweight" rating in a research report on Friday. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Price Performance

Philip Morris International stock opened at $184.01 on Monday. The stock has a market capitalization of $286.41 billion, a P/E ratio of 40.80, a P/E/G ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $185.55. The firm's 50-day moving average is $170.67 and its two-hundred day moving average is $149.47.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Philip Morris International's revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.50 earnings per share. As a group, analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.93%. Philip Morris International's dividend payout ratio is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.