Gateway Investment Advisers LLC trimmed its position in shares of Philip Morris International Inc (NYSE:PM) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 860,705 shares of the company’s stock after selling 4,479 shares during the period. Philip Morris International accounts for approximately 0.9% of Gateway Investment Advisers LLC’s holdings, making the stock its 26th biggest position. Gateway Investment Advisers LLC owned approximately 0.06% of Philip Morris International worth $101,090,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Welch Investments LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $113,000. American Beacon Advisors Inc. acquired a new position in Philip Morris International during the 1st quarter valued at about $114,000. Gemmer Asset Management LLC boosted its stake in Philip Morris International by 40.6% during the 1st quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock valued at $126,000 after purchasing an additional 322 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its stake in Philip Morris International by 75.0% during the 1st quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock valued at $198,000 after purchasing an additional 750 shares during the period. Finally, Sterling Investment Advisors Ltd. boosted its stake in Philip Morris International by 23.2% during the 1st quarter. Sterling Investment Advisors Ltd. now owns 1,765 shares of the company’s stock valued at $199,000 after purchasing an additional 332 shares during the period. 72.01% of the stock is owned by hedge funds and other institutional investors.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

A number of research analysts have issued reports on the stock. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and boosted their target price for the company from $118.00 to $119.00 in a research note on Friday, August 11th. Berenberg Bank set a $96.00 target price on shares of Philip Morris International and gave the company a “hold” rating in a research note on Saturday, June 24th. Cowen and Company reissued a “buy” rating on shares of Philip Morris International in a research note on Sunday. BidaskClub lowered shares of Philip Morris International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Bank of America Corporation boosted their target price on shares of Philip Morris International from $120.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $122.79.

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Philip Morris International (NYSE:PM) last released its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $7.11 billion. During the same quarter in the previous year, the company posted $1.15 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be given a dividend of $1.07 per share. The ex-dividend date is Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 dividend on an annualized basis and a yield of 3.80%. Philip Morris International’s dividend payout ratio is presently 92.24%.

Philip Morris International Company Profile

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.

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

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