Iberiabank Corp grew its stake in Philip Morris International Inc (NYSE:PM) by 188.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,371 shares of the company’s stock after purchasing an additional 25,741 shares during the quarter. Philip Morris International makes up 1.4% of Iberiabank Corp’s holdings, making the stock its 21st biggest position. Iberiabank Corp’s holdings in Philip Morris International were worth $4,624,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PM. HighTower Advisors LLC lifted its stake in shares of Philip Morris International by 1.4% in the first quarter. HighTower Advisors LLC now owns 514,313 shares of the company’s stock worth $58,076,000 after buying an additional 7,050 shares in the last quarter. Canada Pension Plan Investment Board lifted 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. Swiss National Bank lifted 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. First Manhattan Co. lifted its stake in shares of Philip Morris International by 1.6% in the first quarter. First Manhattan Co. now owns 1,724,204 shares of the company’s stock worth $167,627,000 after buying an additional 26,507 shares in the last quarter. Finally, Access Financial Services Inc. lifted its stake in shares of Philip Morris International by 5.0% in the first quarter. Access Financial Services Inc. now owns 5,853 shares of the company’s stock worth $661,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.

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Several equities analysts have recently weighed in on the stock. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the stock a “hold” rating in a research note on Saturday, June 24th. BidaskClub raised shares of Philip Morris International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 21st. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and raised their price target for the stock from $118.00 to $119.00 in a research note on Friday, August 11th. Vetr downgraded shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $117.88 price target on the stock. in a research note on Monday, June 19th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $131.00 price target on shares of Philip Morris International in a research note on Wednesday, May 24th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Buy” and a consensus price target of $122.79.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the firm’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 legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

Philip Morris International (NYSE:PM) last released 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 negative return on equity of 66.18% and a net margin of 9.36%. The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same period in the prior year, the business earned $1.15 earnings per share. Philip Morris International’s revenue for the quarter was up 4.0% on a year-over-year basis.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be paid a dividend of $1.07 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Tuesday, September 26th. Philip Morris International’s dividend payout ratio (DPR) 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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