Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in Philip Morris International Inc. (NYSE:PM) by 233.3% during the second quarter, Holdings Channel reports. The fund owned 1,000 shares of the company’s stock after buying an additional 700 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC’s holdings in Philip Morris International were worth $101,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Acropolis Investment Management LLC increased its position in shares of Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,054 shares of the company’s stock valued at $107,000 after buying an additional 5 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Philip Morris International during the second quarter valued at $113,000. FNY Managed Accounts LLC increased its position in shares of Philip Morris International by 257.1% in the second quarter. FNY Managed Accounts LLC now owns 1,250 shares of the company’s stock valued at $127,000 after buying an additional 900 shares in the last quarter. RKL Wealth Management LLC purchased a new position in shares of Philip Morris International during the second quarter valued at $179,000. Finally, CWM LLC increased its position in shares of Philip Morris International by 349.2% in the second quarter. CWM LLC now owns 1,770 shares of the company’s stock valued at $180,000 after buying an additional 1,376 shares in the last quarter. 71.22% of the stock is currently owned by institutional investors.

Shares of Philip Morris International Inc. (NYSE:PM) traded up 1.01% during mid-day trading on Wednesday, hitting $100.21. 2,859,316 shares of the stock were exchanged. Philip Morris International Inc. has a 12 month low of $78.03 and a 12 month high of $104.20. The company has a 50-day moving average price of $99.71 and a 200-day moving average price of $99.60. The stock has a market cap of $155.46 billion, a price-to-earnings ratio of 23.97 and a beta of 0.97.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by $0.05. Philip Morris International had a net margin of 8.84% and a negative return on equity of 57.28%. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter last year, the business earned $1.21 EPS. Equities analysts expect that Philip Morris International Inc. will post $4.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 28th will be given a dividend of $1.04 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.02. The ex-dividend date is Monday, September 26th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 4.19%. Philip Morris International’s dividend payout ratio (DPR) is 97.61%.

Several equities analysts have weighed in on PM shares. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Goldman Sachs Group Inc. raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and lifted their price target for the company from $106.00 to $114.00 in a report on Monday, September 12th. Vetr raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Tuesday, September 13th. JPMorgan Chase & Co. raised shares of Philip Morris International from a “neutral” rating to an “overweight” rating and set a $112.00 price target on the stock in a report on Friday, June 17th. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of Philip Morris International in a research report on Thursday, September 15th. Seven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $104.06.

About Philip Morris International

Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

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