Oppenheimer & Co. Inc. lessened its stake in Philip Morris International Inc. (NYSE:PM) by 5.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 120,552 shares of the company’s stock after selling 7,014 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Philip Morris International were worth $13,382,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in PM. Iberiabank Corp boosted its stake in shares of Philip Morris International by 188.9% in the 2nd quarter. Iberiabank Corp now owns 39,371 shares of the company’s stock valued at $4,624,000 after purchasing an additional 25,741 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Philip Morris International by 1.5% in the 2nd quarter. Private Trust Co. NA now owns 40,824 shares of the company’s stock valued at $4,794,000 after purchasing an additional 585 shares in the last quarter. Pure Financial Advisors Inc. boosted its stake in shares of Philip Morris International by 13.1% in the 2nd quarter. Pure Financial Advisors Inc. now owns 4,008 shares of the company’s stock valued at $471,000 after purchasing an additional 464 shares in the last quarter. Carlson Capital Management boosted its stake in shares of Philip Morris International by 12.6% in the 2nd quarter. Carlson Capital Management now owns 3,497 shares of the company’s stock valued at $411,000 after purchasing an additional 392 shares in the last quarter. Finally, CenturyLink Investment Management Co boosted its stake in shares of Philip Morris International by 100.4% in the 2nd quarter. CenturyLink Investment Management Co now owns 12,465 shares of the company’s stock valued at $1,464,000 after purchasing an additional 6,246 shares in the last quarter. 72.35% of the stock is owned by institutional investors and hedge funds.

Shares of Philip Morris International Inc. (NYSE PM) opened at $105.07 on Friday. Philip Morris International Inc. has a 1-year low of $93.23 and a 1-year high of $123.55. The company has a current ratio of 1.13, a quick ratio of 0.68 and a debt-to-equity ratio of -2.91. The company has a market cap of $164,313.33, a price-to-earnings ratio of 23.19, a P/E/G ratio of 1.91 and a beta of 0.89.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). Philip Morris International had a negative return on equity of 67.59% and a net margin of 9.32%. The company had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same quarter last year, the company posted $1.25 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. equities analysts anticipate that Philip Morris International Inc. will post 4.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st were issued a $1.07 dividend. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $4.28 annualized dividend and a yield of 4.07%. Philip Morris International’s dividend payout ratio (DPR) is presently 94.48%.

In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

PM has been the subject of a number of recent analyst reports. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. Goldman Sachs Group upgraded shares of Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price target for the company in a report on Thursday, September 28th. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, December 11th. Cowen reiterated a “buy” rating on shares of Philip Morris International in a report on Sunday, September 24th. Finally, Bank of America lowered their price target on shares of Philip Morris International from $124.00 to $121.00 and set a “neutral” rating for the company in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $124.54.

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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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