Hayek Kallen Investment Management cut its position in Philip Morris International Inc. (NYSE:PM) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,796 shares of the company’s stock after selling 622 shares during the quarter. Philip Morris International accounts for about 1.7% of Hayek Kallen Investment Management’s portfolio, making the stock its 25th largest holding. Hayek Kallen Investment Management’s holdings in Philip Morris International were worth $2,654,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Strategic Wealth Management Group LLC boosted its stake in shares of Philip Morris International by 9.6% in the 2nd quarter. Strategic Wealth Management Group LLC now owns 2,847 shares of the company’s stock valued at $224,000 after purchasing an additional 250 shares during the last quarter. Round Table Services LLC boosted its stake in shares of Philip Morris International by 32.5% in the 2nd quarter. Round Table Services LLC now owns 4,492 shares of the company’s stock valued at $353,000 after purchasing an additional 1,103 shares during the last quarter. Waverton Investment Management Ltd boosted its stake in shares of Philip Morris International by 2.8% in the 2nd quarter. Waverton Investment Management Ltd now owns 13,767 shares of the company’s stock valued at $1,081,000 after purchasing an additional 378 shares during the last quarter. Intl Fcstone Inc. boosted its stake in shares of Philip Morris International by 5.8% in the 2nd quarter. Intl Fcstone Inc. now owns 5,430 shares of the company’s stock valued at $433,000 after purchasing an additional 297 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its stake in shares of Philip Morris International by 197.7% in the 2nd quarter. NEXT Financial Group Inc now owns 10,576 shares of the company’s stock valued at $831,000 after purchasing an additional 7,024 shares during the last quarter. Institutional investors and hedge funds own 73.46% of the company’s stock.

NYSE PM traded up $0.35 on Friday, hitting $85.98. 3,348,345 shares of the company were exchanged, compared to its average volume of 4,706,643. The stock has a market capitalization of $133.77 billion, a P/E ratio of 16.86, a PEG ratio of 2.10 and a beta of 0.96. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $92.74. The stock’s fifty day moving average is $80.44.

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

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were paid a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.30%. The ex-dividend date was Thursday, June 20th. Philip Morris International’s dividend payout ratio is presently 89.41%.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $87.42, for a total transaction of $96,162.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Kunst acquired 1,000 shares of the stock in a transaction on Friday, May 31st. The shares were acquired at an average price of $79.66 per share, for a total transaction of $79,660.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 4,000 shares of company stock worth $331,705. 0.21% of the stock is owned by insiders.

A number of equities research analysts have recently commented on PM shares. Morgan Stanley set a $207.00 price objective on shares of Alibaba Group and gave the company a “buy” rating in a research note on Friday, July 12th. ValuEngine lowered shares of United Rentals from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 18th. Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Societe Generale raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, May 7th. Finally, Wells Fargo & Co set a $15.00 target price on shares of United Insurance and gave the stock a “hold” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $93.92.

Philip Morris International Company Profile

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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