Public Employees Retirement System of Ohio lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 0.8% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,058,308 shares of the company’s stock after acquiring an additional 8,814 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Philip Morris International were worth $85,448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optimum Investment Advisors purchased a new position in shares of Philip Morris International in the first quarter worth $100,000. Shine Investment Advisory Services Inc. increased its stake in shares of Philip Morris International by 90.7% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after buying an additional 592 shares during the period. Landaas & Co. WI ADV purchased a new position in shares of Philip Morris International in the second quarter worth $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Philip Morris International in the second quarter worth $108,000. Finally, Cordasco Financial Network increased its stake in shares of Philip Morris International by 214.1% in the second quarter. Cordasco Financial Network now owns 1,357 shares of the company’s stock worth $110,000 after buying an additional 925 shares during the period. Hedge funds and other institutional investors own 72.69% of the company’s stock.

Shares of Philip Morris International stock opened at $80.59 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.64 and a debt-to-equity ratio of -2.76. The firm has a market cap of $123.32 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.75 and a beta of 0.82. Philip Morris International Inc. has a 12-month low of $76.21 and a 12-month high of $116.07.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.18. The business had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $7.53 billion. Philip Morris International had a net margin of 7.84% and a negative return on equity of 76.67%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. analysts forecast that Philip Morris International Inc. will post 5.04 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th will be given a dividend of $1.14 per share. This represents a $4.56 dividend on an annualized basis and a yield of 5.66%. The ex-dividend date of this dividend is Tuesday, September 25th. Philip Morris International’s payout ratio is currently 92.49%.

Several research analysts recently commented on PM shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $93.00 target price on shares of Philip Morris International in a research note on Friday, July 13th. Citigroup set a $90.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 20th. ValuEngine raised shares of Philip Morris International from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Societe Generale downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, July 23rd. Finally, Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 target price on the stock in a research note on Wednesday, July 25th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Philip Morris International has an average rating of “Hold” and a consensus price target of $103.36.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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

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