Barings LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 6.5% in the third quarter, HoldingsChannel reports. The firm owned 58,902 shares of the company’s stock after selling 4,100 shares during the quarter. Barings LLC’s holdings in Philip Morris International were worth $6,539,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Philip Morris International by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after acquiring an additional 2,972,929 shares in the last quarter. Flossbach Von Storch AG grew its stake in shares of Philip Morris International by 539.3% during the 3rd quarter. Flossbach Von Storch AG now owns 3,491,075 shares of the company’s stock worth $387,544,000 after acquiring an additional 2,945,025 shares in the last quarter. BlackRock Inc. grew its stake in shares of Philip Morris International by 2.7% during the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after acquiring an additional 2,421,533 shares in the last quarter. FMR LLC grew its stake in shares of Philip Morris International by 12.5% during the 2nd quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after acquiring an additional 2,330,864 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Philip Morris International by 57.8% during the 2nd quarter. Alliancebernstein L.P. now owns 5,840,773 shares of the company’s stock worth $685,999,000 after acquiring an additional 2,139,002 shares in the last quarter. 72.35% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently weighed in on PM. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Tuesday. Citigroup decreased their price target on shares of Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a research note on Tuesday, January 16th. Jefferies Group reaffirmed a “hold” rating and set a $120.00 price target on shares of Philip Morris International in a research note on Thursday, September 28th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $137.00 price target (up from $130.00) on shares of Philip Morris International in a research note on Thursday, January 11th. Finally, Goldman Sachs Group began coverage on shares of Philip Morris International in a research note on Monday, October 2nd. They set a “buy” rating for the company. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Philip Morris International has an average rating of “Buy” and an average price target of $125.31.

Shares of Philip Morris International Inc. (PM) opened at $109.53 on Wednesday. The company has a market capitalization of $170,120.00, a P/E ratio of 24.18, a PEG ratio of 1.97 and a beta of 0.89. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91. Philip Morris International Inc. has a twelve month low of $94.88 and a twelve month high of $123.55.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 11th. Stockholders of record on Thursday, December 21st were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend was Wednesday, December 20th. Philip Morris International’s payout ratio is presently 94.48%.

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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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