Allegis Investment Advisors LLC raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 12.8% during the second quarter, Holdings Channel reports. The fund owned 15,206 shares of the company’s stock after buying an additional 1,725 shares during the period. Allegis Investment Advisors LLC’s holdings in Philip Morris International were worth $1,500,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Independent Portfolio Consultants Inc. raised its position in Philip Morris International by 1.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 20,596 shares of the company’s stock worth $2,021,000 after buying an additional 220 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its position in Philip Morris International by 7.8% in the first quarter. CHURCHILL MANAGEMENT Corp now owns 156,240 shares of the company’s stock worth $15,329,000 after buying an additional 11,330 shares in the last quarter. Searle & CO. raised its position in Philip Morris International by 0.8% in the first quarter. Searle & CO. now owns 30,773 shares of the company’s stock worth $3,070,000 after buying an additional 234 shares in the last quarter. Atalanta Sosnoff Capital LLC raised its position in Philip Morris International by 430.4% in the first quarter. Atalanta Sosnoff Capital LLC now owns 140,656 shares of the company’s stock worth $13,800,000 after buying an additional 114,136 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its position in Philip Morris International by 8.6% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 377,228 shares of the company’s stock worth $37,010,000 after buying an additional 29,966 shares in the last quarter. Institutional investors own 71.22% of the company’s stock.

Philip Morris International Inc. (NYSE:PM) traded up 0.97% during midday trading on Wednesday, reaching $100.17. The company had a trading volume of 2,738,772 shares. The firm has a 50-day moving average price of $99.71 and a 200-day moving average price of $99.60. The company has a market capitalization of $155.40 billion, a price-to-earnings ratio of 23.96 and a beta of 0.97. Philip Morris International Inc. has a 52 week low of $78.03 and a 52 week high of $104.20.

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

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 28th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 4.19%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.02. The ex-dividend date of this dividend is Monday, September 26th. Philip Morris International’s dividend payout ratio is presently 97.61%.

A number of research firms have recently weighed in on PM. Jefferies Group began coverage on Philip Morris International in a report on Wednesday. They issued a “hold” rating and a $96.00 target price on the stock. Citigroup Inc. began coverage on Philip Morris International in a report on Tuesday, September 13th. They issued a “neutral” rating and a $106.00 target price on the stock. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $105.00 target price (up previously from $99.00) on shares of Philip Morris International in a report on Friday, July 15th. JPMorgan Chase & Co. upgraded Philip Morris International from a “neutral” rating to an “overweight” rating and set a $112.00 target price on the stock in a report on Friday, June 17th. Finally, Wells Fargo & Co. reaffirmed 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 an average rating of “Buy” and a consensus price target of $104.06.

Philip Morris International Company Profile

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.

5 Day Chart for NYSE:PM

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

Receive News & Ratings for Philip Morris International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International Inc. and related companies with MarketBeat.com's FREE daily email newsletter.