Flossbach Von Storch AG lifted its stake in Philip Morris International Inc (NYSE:PM) by 14,461.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 546,050 shares of the company’s stock after purchasing an additional 542,300 shares during the quarter. Philip Morris International accounts for 0.7% of Flossbach Von Storch AG’s portfolio, making the stock its 29th largest position. Flossbach Von Storch AG’s holdings in Philip Morris International were worth $64,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbour Capital Advisors LLC lifted its position in shares of Philip Morris International by 11,280.7% in the second quarter. Harbour Capital Advisors LLC now owns 862,200 shares of the company’s stock worth $7,341,000 after purchasing an additional 854,624 shares in the last quarter. First Merchants Corp raised its position in Philip Morris International by 22.1% during the second quarter. First Merchants Corp now owns 3,725 shares of the company’s stock valued at $437,000 after acquiring an additional 675 shares in the last quarter. IBM Retirement Fund raised its position in Philip Morris International by 73.1% during the second quarter. IBM Retirement Fund now owns 38,002 shares of the company’s stock valued at $4,987,000 after acquiring an additional 16,052 shares in the last quarter. Sumitomo Life Insurance Co. raised its position in Philip Morris International by 4.4% during the second quarter. Sumitomo Life Insurance Co. now owns 51,027 shares of the company’s stock valued at $5,993,000 after acquiring an additional 2,149 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its position in Philip Morris International by 0.7% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,415,560 shares of the company’s stock valued at $166,258,000 after acquiring an additional 10,109 shares in the last quarter. 72.01% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently weighed in on PM. Jefferies Group LLC reaffirmed a “hold” rating and set a $121.00 price objective on shares of Philip Morris International in a research report on Tuesday, June 20th. Piper Jaffray Companies set a $134.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research report on Saturday, August 19th. SBG Securities raised shares of Philip Morris International from a “sell” rating to a “hold” rating and raised their price objective for the company from $118.00 to $119.00 in a research report on Friday, August 11th. BidaskClub raised shares of Philip Morris International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company reaffirmed a “buy” rating and set a $135.00 price objective on shares of Philip Morris International in a research report on Tuesday, August 22nd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $123.77.

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In other news, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction that occurred on 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.23% of the company’s stock.

Philip Morris International Inc (NYSE:PM) opened at 111.61 on Thursday. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The firm has a market cap of $173.35 billion, a P/E ratio of 24.73 and a beta of 0.94. The firm’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 data 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 negative return on equity of 66.18% and a net margin of 9.36%. The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the prior year, the company earned $1.15 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts forecast that Philip Morris International Inc will post $4.83 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be paid a dividend of $1.07 per share. The ex-dividend date is Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.83%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s dividend 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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