Underhill Investment Management LLC lessened its position in Philip Morris International Inc (NYSE:PM) by 36.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,300 shares of the company’s stock after selling 2,500 shares during the period. Philip Morris International accounts for about 0.3% of Underhill Investment Management LLC’s portfolio, making the stock its 19th biggest holding. Underhill Investment Management LLC’s holdings in Philip Morris International were worth $505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sumitomo Life Insurance Co. increased its holdings in Philip Morris International by 4.4% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 51,027 shares of the company’s stock worth $5,993,000 after purchasing an additional 2,149 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in Philip Morris International by 0.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,415,560 shares of the company’s stock worth $166,258,000 after purchasing an additional 10,109 shares in the last quarter. Capital Advisors Ltd. LLC increased its holdings in Philip Morris International by 0.6% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 4,547 shares of the company’s stock worth $534,000 after purchasing an additional 26 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in Philip Morris International by 2.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 18,113 shares of the company’s stock worth $2,127,000 after purchasing an additional 518 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. increased its holdings in Philip Morris International by 0.4% in the 2nd quarter. Ferguson Wellman Capital Management Inc. now owns 313,773 shares of the company’s stock worth $36,853,000 after purchasing an additional 1,377 shares in the last quarter. 72.01% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have issued reports on PM. Cowen and Company reaffirmed a “buy” rating on shares of Philip Morris International in a report on Sunday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $120.00 target price (down previously from $121.00) on shares of Philip Morris International in a report on Thursday, August 24th. Piper Jaffray Companies set a $134.00 target price on Philip Morris International and gave the stock a “buy” rating in a report on Saturday, August 19th. BidaskClub raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and increased their price target for the company from $118.00 to $119.00 in a research note on Friday, August 11th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $122.79.

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In related news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by insiders.

Shares of Philip Morris International Inc (NYSE:PM) opened at 113.25 on Tuesday. The company has a market cap of $175.90 billion, a price-to-earnings ratio of 25.09 and a beta of 0.94. Philip Morris International Inc has a 12 month low of $86.78 and a 12 month high of $123.55. The company’s 50 day moving average price is $116.11 and its 200 day moving average price is $115.73.

Philip Morris International (NYSE:PM) last announced its quarterly 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 analysts’ expectations of $7.11 billion. During the same quarter in the prior year, the firm earned $1.15 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts expect that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.

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

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.

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

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