Palisade Asset Management LLC held its stake in shares of Philip Morris International Inc (NYSE:PM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,996 shares of the company’s stock at the close of the 2nd quarter. Palisade Asset Management LLC’s holdings in Philip Morris International were worth $234,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Guidant Wealth Advisors boosted its holdings in Philip Morris International by 25.5% in the second quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after acquiring an additional 191 shares during the last quarter. Welch Investments LLC bought a new position in Philip Morris International in the first quarter valued at about $113,000. American Beacon Advisors Inc. bought a new position in Philip Morris International in the first quarter valued at about $114,000. Acropolis Investment Management LLC boosted its holdings in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock valued at $123,000 after acquiring an additional 5 shares during the last quarter. Finally, Donald L. Hagan LLC bought a new position in Philip Morris International in the second quarter valued at about $202,000. Institutional investors own 72.00% of the company’s stock.

Several equities analysts recently issued reports on PM shares. Berenberg Bank set a $96.00 price target on Philip Morris International and gave the company a “hold” rating in a report on Saturday, June 24th. Vetr upgraded Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 price target on the stock in a report on Monday, June 26th. BidaskClub cut Philip Morris International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Bank of America Corporation raised their price target on Philip Morris International from $123.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, July 10th. Finally, Zacks Investment Research upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Tuesday, July 11th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $126.00.

In related news, insider Drago Azinovic sold 14,000 shares of the company’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Shares of Philip Morris International Inc (NYSE PM) opened at 108.15 on Friday. The firm has a market cap of $167.98 billion, a price-to-earnings ratio of 23.96 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’s 50 day moving average price is $114.14 and its 200-day moving average price is $115.73.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.11). Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business had revenue of $7.50 billion for the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts forecast that Philip Morris International Inc will post $4.84 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Wednesday, September 27th were given a dividend of $1.07 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, September 26th. This represents a $4.28 annualized dividend and a dividend yield of 3.96%. Philip Morris International’s dividend payout ratio is presently 94.90%.

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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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