Grandfield & Dodd LLC decreased its position in Philip Morris International Inc (NYSE:PM) by 2.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,076 shares of the company’s stock after selling 371 shares during the period. Grandfield & Dodd LLC’s holdings in Philip Morris International were worth $1,653,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PM. Lyell Wealth Management LP lifted its position in Philip Morris International by 3.8% during the 2nd quarter. Lyell Wealth Management LP now owns 5,228 shares of the company’s stock worth $619,000 after buying an additional 193 shares in the last quarter. Lee Financial Co increased its stake in shares of Philip Morris International by 19.0% during the 2nd quarter. Lee Financial Co now owns 15,070 shares of the company’s stock worth $1,770,000 after purchasing an additional 2,409 shares during the last quarter. CAPROCK Group Inc. increased its stake in shares of Philip Morris International by 257.1% during the 2nd quarter. CAPROCK Group Inc. now owns 10,041 shares of the company’s stock worth $1,190,000 after purchasing an additional 7,229 shares during the last quarter. Nwam LLC increased its stake in shares of Philip Morris International by 14.3% during the 2nd quarter. Nwam LLC now owns 3,937 shares of the company’s stock worth $462,000 after purchasing an additional 494 shares during the last quarter. Finally, Lourd Capital LLC increased its stake in shares of Philip Morris International by 2.0% during the 2nd quarter. Lourd Capital LLC now owns 5,586 shares of the company’s stock worth $656,000 after purchasing an additional 107 shares during the last quarter. 72.01% of the stock is owned by institutional investors.

In related news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were 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 Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

PM has been the topic of several recent analyst reports. TheStreet upgraded shares of Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Zacks Investment Research lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the company a “hold” rating in a research note on Saturday, June 24th. Wells Fargo & Company reiterated an “outperform” rating on shares of Philip Morris International in a research note on Friday, June 9th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $125.00 price target (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 assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $123.92.

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Shares of Philip Morris International Inc (NYSE:PM) opened at 111.27 on Friday. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The company has a market cap of $172.82 billion, a P/E ratio of 24.66 and a beta of 0.93. The stock’s 50 day moving average is $114.80 and its 200-day moving average is $115.71.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the consensus estimate 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%. Philip Morris International’s revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 EPS. Equities research analysts forecast that Philip Morris International Inc will post $4.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $4.28 annualized dividend and a yield of 3.85%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is currently 94.90%.

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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