Douglass Winthrop Advisors LLC cut its position in shares of Philip Morris International Inc (NYSE:PM) by 16.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,934 shares of the company’s stock after selling 11,260 shares during the quarter. Douglass Winthrop Advisors LLC’s holdings in Philip Morris International were worth $6,922,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Amerigo Asset Management acquired a new stake in Philip Morris International during the second quarter valued at approximately $209,061,000. Canada Pension Plan Investment Board boosted its holdings in Philip Morris International by 60.4% during the second quarter. Canada Pension Plan Investment Board now owns 3,353,310 shares of the company’s stock valued at $393,846,000 after purchasing an additional 1,262,200 shares in the last quarter. C WorldWide Group Holding A S boosted its holdings in Philip Morris International by 70.9% during the first quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock valued at $341,770,000 after purchasing an additional 1,255,776 shares in the last quarter. Swiss National Bank boosted its holdings in Philip Morris International by 26.2% during the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after purchasing an additional 1,189,800 shares in the last quarter. Finally, State Street Corp boosted its holdings in Philip Morris International by 1.8% during the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after purchasing an additional 1,058,408 shares in the last quarter. 72.20% of the stock is currently owned by institutional investors and hedge funds.

PM has been the topic of a number of recent research reports. Societe Generale raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, October 20th. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $133.00 price objective (down from $134.00) on shares of Philip Morris International in a report on Saturday, July 22nd. Cowen and Company reaffirmed a “buy” rating on shares of Philip Morris International in a report on Sunday, September 24th. Finally, BidaskClub downgraded Philip Morris International from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $124.62.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Louis C. Camilleri sold 108,979 shares of the firm’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total transaction of $11,811,144.02. The disclosure for this sale can be found here. Company insiders own 0.23% of the company’s stock.

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Philip Morris International Inc (PM) opened at 104.64 on Wednesday. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The company has a 50-day moving average of $111.85 and a 200 day moving average of $115.39. The company has a market cap of $162.53 billion, a PE ratio of 23.19 and a beta of 0.93.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The company had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.75 billion. During the same quarter in the prior year, the business earned $1.25 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Equities research analysts predict that Philip Morris International Inc will post $4.75 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were given a $1.07 dividend. The ex-dividend date was Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a yield of 4.09%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s dividend payout ratio (DPR) is currently 94.48%.

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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