Global X Management Co LLC cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,320 shares of the company’s stock after selling 2,010 shares during the period. Global X Management Co LLC’s holdings in Philip Morris International were worth $7,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Shine Investment Advisory Services Inc. grew its stake in Philip Morris International by 90.7% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock worth $101,000 after purchasing an additional 592 shares in the last quarter. BKD Wealth Advisors LLC grew its stake in Philip Morris International by 5.0% in the second quarter. BKD Wealth Advisors LLC now owns 13,174 shares of the company’s stock worth $1,064,000 after purchasing an additional 625 shares in the last quarter. Pictet & Cie Europe SA grew its stake in Philip Morris International by 7.3% in the second quarter. Pictet & Cie Europe SA now owns 9,173 shares of the company’s stock worth $741,000 after purchasing an additional 627 shares in the last quarter. InterOcean Capital LLC grew its stake in Philip Morris International by 11.3% in the second quarter. InterOcean Capital LLC now owns 6,274 shares of the company’s stock worth $507,000 after purchasing an additional 636 shares in the last quarter. Finally, Strategic Financial Group LLC boosted its position in Philip Morris International by 20.7% during the 2nd quarter. Strategic Financial Group LLC now owns 3,732 shares of the company’s stock valued at $301,000 after acquiring an additional 639 shares in the last quarter. Institutional investors and hedge funds own 72.73% of the company’s stock.

A number of research firms have recently weighed in on PM. Citigroup set a $90.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 20th. Piper Jaffray Companies set a $99.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research report on Wednesday. Stifel Nicolaus lowered their price objective on Philip Morris International from $100.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Cowen lowered Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 price objective for the company. in a research note on Friday, July 20th. Finally, JPMorgan Chase & Co. lowered Philip Morris International from an “overweight” rating to a “neutral” rating in a research note on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $98.00.

Shares of NYSE:PM remained flat at $$82.31 during trading on Friday. The stock had a trading volume of 6,304,455 shares, compared to its average volume of 6,064,199. The company has a debt-to-equity ratio of -2.76, a current ratio of 1.15 and a quick ratio of 0.64. Philip Morris International Inc. has a 52-week low of $76.21 and a 52-week high of $115.15. The firm has a market cap of $126.75 billion, a PE ratio of 16.70, a PEG ratio of 1.81 and a beta of 0.79.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.18. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The company had revenue of $7.73 billion for the quarter, compared to analysts’ expectations of $7.53 billion. During the same period in the previous year, the firm posted $1.14 EPS. Philip Morris International’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts expect that Philip Morris International Inc. will post 5.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.54%. The ex-dividend date of this dividend was Tuesday, September 25th. Philip Morris International’s payout ratio is 92.49%.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

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

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