CIBC Asset Management Inc lowered its stake in shares of Philip Morris International Inc (NYSE:PM) by 3.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,440 shares of the company’s stock after selling 7,422 shares during the quarter. CIBC Asset Management Inc’s holdings in Philip Morris International were worth $22,015,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. First Manhattan Co. lifted its stake in Philip Morris International by 1.6% during the first quarter. First Manhattan Co. now owns 1,724,204 shares of the company’s stock worth $167,627,000 after purchasing an additional 26,507 shares during the last quarter. Westbourne Investment Advisors Inc. bought a new stake in Philip Morris International during the first quarter worth $205,000. Korea Investment CORP lifted its stake in Philip Morris International by 39.1% during the first quarter. Korea Investment CORP now owns 1,290,946 shares of the company’s stock worth $145,748,000 after purchasing an additional 362,681 shares during the last quarter. Buckhead Capital Management LLC lifted its stake in Philip Morris International by 0.3% during the first quarter. Buckhead Capital Management LLC now owns 15,105 shares of the company’s stock worth $1,705,000 after purchasing an additional 50 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Philip Morris International by 5.0% during the first quarter. Acadian Asset Management LLC now owns 1,353,257 shares of the company’s stock worth $152,786,000 after purchasing an additional 64,537 shares during the last quarter. 72.01% of the stock is currently owned by institutional investors and hedge funds.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.

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Philip Morris International Inc (NYSE PM) opened at 111.54 on Friday. The company has a market capitalization of $173.24 billion, a PE ratio of 24.72 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 price of $114.93 and a 200-day moving average price of $115.73.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the 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 company had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same quarter last year, the firm posted $1.15 earnings per share. The firm’s revenue was up 4.0% on a year-over-year basis. On average, equities analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current fiscal year.

The firm 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 $1.07 dividend. The ex-dividend date of this dividend is Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 annualized dividend and a yield of 3.84%. Philip Morris International’s payout ratio is currently 94.90%.

Several equities research analysts have weighed in on PM shares. TheStreet upgraded Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. BidaskClub cut Philip Morris International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Vetr cut Philip Morris International from a “hold” rating to a “sell” rating and set a $117.88 target price for the company. in a research note on Monday, June 19th. Zacks Investment Research upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Tuesday, July 11th. Finally, Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $133.00 target price (down from $134.00) on shares of Philip Morris International in a research note on Saturday, July 22nd. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $123.92.

Philip Morris International Company Profile

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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