Griffin Asset Management Inc. purchased a new position in shares of Philip Morris International Inc. (NYSE:PM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,466 shares of the company’s stock, valued at approximately $2,051,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Acropolis Investment Management LLC raised its position in Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares during the period. Novare Capital Management LLC raised its position in Philip Morris International by 0.3% in the second quarter. Novare Capital Management LLC now owns 1,842 shares of the company’s stock worth $216,000 after acquiring an additional 5 shares during the period. Hudock Capital Group LLC raised its position in Philip Morris International by 0.3% in the second quarter. Hudock Capital Group LLC now owns 3,144 shares of the company’s stock worth $369,000 after acquiring an additional 8 shares during the period. Jackson Grant Investment Advisers Inc. raised its position in Philip Morris International by 0.3% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 3,368 shares of the company’s stock worth $396,000 after acquiring an additional 10 shares during the period. Finally, Vantage Investment Advisors LLC raised its position in Philip Morris International by 1.0% in the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after acquiring an additional 10 shares during the period. Institutional investors and hedge funds own 72.63% of the company’s stock.

Shares of Philip Morris International Inc. (NYSE:PM) opened at $109.68 on Friday. Philip Morris International Inc. has a 12-month low of $88.90 and a 12-month high of $123.55. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68. The stock has a market cap of $170,355.31, a P/E ratio of 24.43, a PEG ratio of 2.22 and a beta of 0.90.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, October 19th. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. During the same period last year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. sell-side analysts expect that Philip Morris International Inc. will post 4.75 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Wednesday, December 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 94.48%.

Several brokerages have commented on PM. Jefferies Group reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Philip Morris International in a research report on Thursday, September 28th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $135.00 price objective (down previously from $140.00) on shares of Philip Morris International in a research report on Wednesday, November 15th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Philip Morris International in a research report on Sunday, October 22nd. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Goldman Sachs Group began coverage on shares of Philip Morris International in a research report on Monday, October 2nd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $124.23.

In related news, Chairman Louis C. Camilleri sold 108,979 shares of the company’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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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About Philip Morris International

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.

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

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