Granite Investment Partners LLC held its position in shares of Philip Morris International Inc (NYSE:PM) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,809 shares of the company’s stock at the close of the second quarter. Granite Investment Partners LLC’s holdings in Philip Morris International were worth $2,914,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PM. Cadinha & Co. LLC increased its stake in Philip Morris International by 9.7% during the second quarter. Cadinha & Co. LLC now owns 5,988 shares of the company’s stock worth $703,000 after acquiring an additional 527 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Philip Morris International by 8.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 5,516,954 shares of the company’s stock worth $647,967,000 after acquiring an additional 452,857 shares during the last quarter. Sigma Investment Counselors Inc. acquired a new stake in Philip Morris International during the second quarter worth about $207,000. Wetherby Asset Management Inc. increased its stake in Philip Morris International by 1.2% during the second quarter. Wetherby Asset Management Inc. now owns 31,522 shares of the company’s stock worth $3,702,000 after acquiring an additional 387 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Philip Morris International by 60.4% during the second quarter. Canada Pension Plan Investment Board now owns 3,353,310 shares of the company’s stock worth $393,846,000 after acquiring an additional 1,262,200 shares during the last quarter. Hedge funds and other institutional investors own 72.00% of the company’s stock.

PM has been the subject of several research analyst reports. TheStreet upgraded Philip Morris International from a “c+” rating to a “b-” rating in a research note on Thursday, July 20th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $133.00 price target (down from $134.00) on shares of Philip Morris International in a research note on Saturday, July 22nd. Cowen and Company restated a “buy” rating on shares of Philip Morris International in a research note on Sunday, September 24th. BidaskClub lowered Philip Morris International from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Finally, Jefferies Group LLC restated a “hold” rating and set a $120.00 price target (down from $121.00) on shares of Philip Morris International in a research note on Thursday, August 24th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $125.15.

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Philip Morris International Inc (PM) opened at 109.52 on Friday. The company has a 50-day moving average price of $113.93 and a 200-day moving average price of $115.70. Philip Morris International Inc has a one year low of $86.78 and a one year high of $123.55. The stock has a market cap of $170.11 billion, a P/E ratio of 24.27 and a beta of 0.93.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). The business had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, analysts anticipate that Philip Morris International Inc will post $4.81 earnings per share for the current year.

The company 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. The ex-dividend date of this dividend was Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 dividend on an annualized basis and a yield of 3.91%. Philip Morris International’s dividend payout ratio (DPR) is 94.48%.

In related news, insider Drago Azinovic sold 14,000 shares of Philip Morris International 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 SEC, which is available through the SEC website. 0.23% of the stock is owned by company insiders.

Philip Morris International 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.

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

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