MAI Capital Management cut its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,054 shares of the company’s stock after selling 1,458 shares during the quarter. MAI Capital Management’s holdings in Philip Morris International were worth $2,124,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. acquired a new stake in shares of Philip Morris International in the second quarter worth $845,763,000. Flossbach Von Storch AG boosted its position in shares of Philip Morris International by 48.1% in the second quarter. Flossbach Von Storch AG now owns 14,212,696 shares of the company’s stock worth $1,147,533,000 after buying an additional 4,618,289 shares during the period. Morgan Stanley boosted its position in shares of Philip Morris International by 23.9% in the second quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock worth $1,835,871,000 after buying an additional 4,386,487 shares during the period. Coronation Fund Managers Ltd. boosted its position in shares of Philip Morris International by 1,884.4% in the second quarter. Coronation Fund Managers Ltd. now owns 3,877,270 shares of the company’s stock worth $313,051,000 after buying an additional 3,681,882 shares during the period. Finally, Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Philip Morris International in the second quarter worth $277,027,000. 72.73% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:PM opened at $82.31 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of -2.76. Philip Morris International Inc. has a 1 year low of $76.21 and a 1 year high of $115.15. The firm has a market cap of $126.75 billion, a P/E ratio of 16.70, a PEG ratio of 1.81 and a beta of 0.79.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 19th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.18. Philip Morris International had a negative return on equity of 76.67% and a net margin of 7.84%. The business had revenue of $7.73 billion during the quarter, compared to analyst estimates of $7.53 billion. During the same period last year, the company earned $1.14 earnings per share. Philip Morris International’s quarterly revenue was up 11.7% compared to the same quarter last year. Analysts anticipate that Philip Morris International Inc. will post 5.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were issued a dividend of $1.14 per share. The ex-dividend date was Tuesday, September 25th. This represents a $4.56 annualized dividend and a dividend yield of 5.54%. Philip Morris International’s dividend payout ratio is 92.49%.

Several analysts have recently commented on PM shares. Morgan Stanley decreased their target price on Philip Morris International from $111.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, July 17th. Jefferies Financial Group cut Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 target price for the company. in a research report on Friday, August 24th. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a research report on Friday, September 21st. Citigroup set a $90.00 target price on Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 20th. Finally, Cowen cut Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 target price for the company. in a research report on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $98.00.

Philip Morris International Company Profile

Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.

Further Reading: Cash Flow Analysis in Stock Selection

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

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