Parisi Gray Wealth Management cut its stake in Philip Morris International Inc. (NYSE:PM) by 8.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,382 shares of the company’s stock after selling 300 shares during the period. Parisi Gray Wealth Management’s holdings in Philip Morris International were worth $266,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PM. Dimensional Fund Advisors LP increased its stake in shares of Philip Morris International by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,903,052 shares of the company’s stock worth $193,823,000 after purchasing an additional 183,239 shares in the last quarter. Geode Capital Management LLC boosted its position in Philip Morris International by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 18,724,587 shares of the company’s stock worth $1,247,824,000 after acquiring an additional 1,298,116 shares during the last quarter. PRW Wealth Management LLC acquired a new stake in Philip Morris International during the fourth quarter worth approximately $257,000. Edmond DE Rothschild Holding S.A. boosted its position in Philip Morris International by 22.0% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 14,423 shares of the company’s stock worth $963,000 after acquiring an additional 2,602 shares during the last quarter. Finally, Maven Securities LTD acquired a new stake in Philip Morris International during the fourth quarter worth approximately $298,000. 73.48% of the stock is owned by hedge funds and other institutional investors.

Shares of PM traded down $0.95 during mid-day trading on Tuesday, reaching $85.81. The company had a trading volume of 973,478 shares, compared to its average volume of 4,452,253. The firm has a market capitalization of $132.75 billion, a PE ratio of 16.83, a price-to-earnings-growth ratio of 2.10 and a beta of 0.96. The company’s fifty day simple moving average is $80.92. Philip Morris International Inc. has a fifty-two week low of $64.67 and a fifty-two week high of $92.74.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.13. The company 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 for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business earned $1.41 EPS. On average, equities research analysts expect that Philip Morris International Inc. will post 5.21 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 21st were issued a dividend of $1.14 per share. The ex-dividend date was Thursday, June 20th. This represents a $4.56 annualized dividend and a dividend yield of 5.31%. Philip Morris International’s payout ratio is 89.41%.

A number of analysts recently issued reports on PM shares. Bank of America set a $120.00 target price on shares of Walmart and gave the stock a “buy” rating in a research report on Friday, May 17th. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. ValuEngine lowered shares of United Rentals from a “sell” rating to a “strong sell” rating in a report on Thursday, July 18th. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Morgan Stanley set a $207.00 price target on shares of Alibaba Group and gave the company a “buy” rating in a report on Friday, July 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $93.92.

In related news, insider Mario Masseroli sold 1,100 shares of Philip Morris International 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 document filed with the SEC, which is accessible through this hyperlink. Also, VP Michael R. Kunst bought 500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $80.74 per share, for a total transaction of $40,370.00. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

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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