Cincinnati Insurance Co. continued to hold its position in Philip Morris International Inc (NYSE:PM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,435 shares of the company’s stock at the end of the first quarter. Cincinnati Insurance Co.’s holdings in Philip Morris International were worth $27,371,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Philip Morris International during the fourth quarter worth $351,755,000. C WorldWide Group Holding A S increased its stake in shares of Philip Morris International by 70.9% in the first quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock worth $341,770,000 after buying an additional 1,255,776 shares in the last quarter. Swiss National Bank increased its stake in shares of Philip Morris International by 26.2% in the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after buying an additional 1,189,800 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Philip Morris International by 42.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,091,110 shares of the company’s stock worth $236,086,000 after buying an additional 618,100 shares in the last quarter. Finally, Karp Capital Management Corp increased its stake in shares of Philip Morris International by 4,117.4% in the first quarter. Karp Capital Management Corp now owns 561,679 shares of the company’s stock worth $63,414,000 after buying an additional 548,361 shares in the last quarter. Institutional investors own 72.33% of the company’s stock.

Shares of Philip Morris International Inc (PM) opened at 114.76 on Friday. Philip Morris International Inc has a 1-year low of $86.78 and a 1-year high of $123.55. The company has a market capitalization of $178.24 billion, a PE ratio of 25.43 and a beta of 0.93. The company’s 50-day moving average price is $118.90 and its 200-day moving average price is $112.12.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.09. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. During the same period last year, the firm posted $1.15 earnings per share. Philip Morris International’s quarterly revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Friday, June 23rd were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend was Wednesday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 92.24%.

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A number of brokerages recently weighed in on PM. Piper Jaffray Companies reiterated an “overweight” rating and issued a $134.00 price target on shares of Philip Morris International in a research report on Monday, July 31st. BidaskClub downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Thursday, July 27th. Citigroup Inc. reiterated a “neutral” rating and issued a $125.00 price target (down from $128.00) on shares of Philip Morris International in a research report on Monday, July 24th. Zacks Investment Research downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Philip Morris International currently has an average rating of “Buy” and an average price target of $122.00.

About Philip Morris International

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

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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