Alley Co LLC boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,967 shares of the company’s stock after buying an additional 539 shares during the quarter. Philip Morris International accounts for approximately 2.8% of Alley Co LLC’s investment portfolio, making the stock its 6th largest position. Alley Co LLC’s holdings in Philip Morris International were worth $7,395,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Kanawha Capital Management LLC lifted its holdings in shares of Philip Morris International by 0.3% during the first quarter. Kanawha Capital Management LLC now owns 24,162 shares of the company’s stock valued at $2,728,000 after purchasing an additional 73 shares during the last quarter. Paragon Capital Management Ltd purchased a new stake in shares of Philip Morris International during the first quarter valued at $271,000. Financial Architects Inc lifted its holdings in shares of Philip Morris International by 16.7% during the first quarter. Financial Architects Inc now owns 8,899 shares of the company’s stock valued at $1,004,000 after purchasing an additional 1,271 shares during the last quarter. Breton Hill Capital Ltd. lifted its holdings in shares of Philip Morris International by 196.1% during the first quarter. Breton Hill Capital Ltd. now owns 104,045 shares of the company’s stock valued at $11,747,000 after purchasing an additional 212,358 shares during the last quarter. Finally, Schmidt P J Investment Management Inc. lifted its holdings in shares of Philip Morris International by 0.3% during the first quarter. Schmidt P J Investment Management Inc. now owns 49,641 shares of the company’s stock valued at $5,604,000 after purchasing an additional 131 shares during the last quarter. 72.00% of the stock is owned by institutional investors and hedge funds.

Shares of Philip Morris International Inc. (PM) opened at 113.99 on Monday. Philip Morris International Inc. has a 52 week low of $86.78 and a 52 week high of $123.55. The stock has a market capitalization of $177.05 billion, a P/E ratio of 25.26 and a beta of 0.93. The company has a 50-day moving average price of $114.61 and a 200 day moving average price of $115.81.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.09). The business had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.15 EPS. Analysts forecast that Philip Morris International Inc. will post $4.84 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were issued a dividend of $1.07 per share. The ex-dividend date of this dividend was Tuesday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a yield of 3.75%. Philip Morris International’s payout ratio is currently 94.90%.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of Philip Morris International 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

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Several brokerages have recently commented on PM. Berenberg Bank set a $96.00 target price on Philip Morris International and gave the company a “hold” rating in a report on Saturday, June 24th. BidaskClub raised Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating and upped their target price for the company from $118.00 to $119.00 in a report on Friday, August 11th. Vetr downgraded Philip Morris International from a “hold” rating to a “sell” rating and set a $117.88 target price for the company. in a report on Monday, June 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $120.00 target price on shares of Philip Morris International in a report on Thursday, September 28th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Philip Morris International has an average rating of “Buy” and an average price target of $125.92.

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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