Klingenstein Fields & Co. LLC reduced its position in shares of Philip Morris International Inc (NYSE:PM) by 25.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,626 shares of the company’s stock after selling 16,831 shares during the period. Klingenstein Fields & Co. LLC’s holdings in Philip Morris International were worth $5,829,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in Philip Morris International by 1.8% in the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after purchasing an additional 1,058,408 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Philip Morris International by 3.9% during the 1st quarter. Legal & General Group Plc now owns 7,211,588 shares of the company’s stock worth $814,358,000 after buying an additional 268,119 shares in the last quarter. Swiss National Bank lifted its position in shares of Philip Morris International by 26.2% during the 1st 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. UBS Asset Management Americas Inc. lifted its position in shares of Philip Morris International by 4.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock worth $604,524,000 after buying an additional 251,734 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Philip Morris International by 4.5% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 5,064,097 shares of the company’s stock worth $571,737,000 after buying an additional 218,999 shares in the last quarter. 72.01% of the stock is currently owned by institutional investors.

In other Philip Morris International 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.23% of the company’s stock.

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Shares of Philip Morris International Inc (PM) opened at 110.87 on Tuesday. The company has a market cap of $172.20 billion, a price-to-earnings ratio of 24.57 and a beta of 0.93. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The stock has a 50 day moving average of $115.39 and a 200 day moving average of $115.82.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.09). The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 EPS. On average, equities research analysts expect that Philip Morris International Inc will post $4.83 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.86%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Tuesday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 94.90%.

PM has been the subject of a number of research analyst reports. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Berenberg Bank set a $96.00 price objective on Philip Morris International and gave the stock a “hold” rating in a research report on Saturday, June 24th. Wells Fargo & Company reissued an “outperform” rating on shares of Philip Morris International in a research report on Friday, June 9th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $125.00 price objective (down previously from $128.00) on shares of Philip Morris International in a research note on Monday, July 24th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $123.92.

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.

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

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