Nomura Asset Management Co. Ltd. increased its holdings in Philip Morris International Inc. (NYSE:PM) by 1.4% in the 2nd quarter, Holdings Channel reports. The fund owned 514,576 shares of the company’s stock after buying an additional 6,866 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Philip Morris International were worth $40,409,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Titan Capital Management LLC CA bought a new position in shares of Philip Morris International in the 2nd quarter worth about $30,000. Manchester Financial Inc. bought a new position in shares of Philip Morris International in the 2nd quarter worth about $36,000. Brand Asset Management Group Inc. increased its stake in shares of Philip Morris International by 34.9% in the 2nd quarter. Brand Asset Management Group Inc. now owns 472 shares of the company’s stock worth $37,000 after acquiring an additional 122 shares in the last quarter. HMS Capital Management LLC bought a new position in shares of Philip Morris International in the 2nd quarter worth about $46,000. Finally, MCF Advisors LLC increased its stake in shares of Philip Morris International by 26.7% in the 2nd quarter. MCF Advisors LLC now owns 603 shares of the company’s stock worth $47,000 after acquiring an additional 127 shares in the last quarter. Institutional investors own 74.59% of the company’s stock.

In other news, insider Mario Masseroli sold 1,100 shares of Philip Morris International stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.21% of the company’s stock.

A number of analysts have weighed in on PM shares. Citigroup restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, September 4th. Credit Suisse Group set a $80.00 price objective on shares of Philip Morris International and gave the company a “sell” rating in a research note on Wednesday, August 28th. Wells Fargo & Co set a $102.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research note on Monday, August 26th. Bank of America upgraded shares of Philip Morris International from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $81.00 to $94.00 in a research note on Friday, May 17th. Finally, Morgan Stanley reduced their price objective on shares of Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $93.77.

Shares of PM stock traded down $1.65 during trading hours on Friday, reaching $73.26. The company had a trading volume of 5,677,105 shares, compared to its average volume of 8,091,031. The business has a fifty day moving average price of $80.12 and a 200-day moving average price of $83.07. Philip Morris International Inc. has a one year low of $64.67 and a one year high of $92.74. The firm has a market cap of $115.66 billion, a PE ratio of 14.36, a price-to-earnings-growth ratio of 1.82 and a beta of 0.99.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.42 billion. During the same period in the previous year, the business posted $1.41 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. As a group, research analysts anticipate that Philip Morris International Inc. will post 5.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th will be paid a $1.17 dividend. The ex-dividend date is Tuesday, September 24th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 dividend on an annualized basis and a dividend yield of 6.39%. Philip Morris International’s payout ratio is currently 89.41%.

About Philip Morris International

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.

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

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