Everett Harris & Co. CA trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 6.2% during the second quarter, HoldingsChannel reports. The firm owned 11,514 shares of the company’s stock after selling 761 shares during the period. Everett Harris & Co. CA’s holdings in Philip Morris International were worth $807,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Verus Capital Partners LLC acquired a new stake in shares of Philip Morris International during the 4th quarter worth approximately $90,000. Macquarie Group Ltd. boosted its position in Philip Morris International by 23.0% in the fourth quarter. Macquarie Group Ltd. now owns 293,162 shares of the company’s stock valued at $24,945,000 after buying an additional 54,845 shares in the last quarter. Fulton Bank N.A. grew its stake in shares of Philip Morris International by 14.0% during the first quarter. Fulton Bank N.A. now owns 46,257 shares of the company’s stock worth $3,375,000 after buying an additional 5,674 shares during the last quarter. Blackhawk Capital Partners LLC. acquired a new position in shares of Philip Morris International during the first quarter worth $1,299,000. Finally, State of Alaska Department of Revenue boosted its holdings in shares of Philip Morris International by 4.8% during the 1st quarter. State of Alaska Department of Revenue now owns 270,212 shares of the company’s stock valued at $19,713,000 after acquiring an additional 12,403 shares in the last quarter. Institutional investors and hedge funds own 74.56% of the company’s stock.

NYSE:PM opened at $76.81 on Friday. The company has a market capitalization of $120.60 billion, a P/E ratio of 15.04, a P/E/G ratio of 2.34 and a beta of 0.76. The business has a fifty day simple moving average of $72.98 and a two-hundred day simple moving average of $76.82. Philip Morris International Inc. has a 1 year low of $56.01 and a 1 year high of $90.17.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 21st. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.19. Philip Morris International had a negative return on equity of 80.24% and a net margin of 9.54%. The company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. During the same quarter last year, the firm posted $1.46 EPS. The firm’s revenue for the quarter was down 13.6% on a year-over-year basis. Analysts forecast that Philip Morris International Inc. will post 5.02 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Monday, June 22nd were given a $1.17 dividend. This represents a $4.68 annualized dividend and a dividend yield of 6.09%. The ex-dividend date of this dividend was Friday, June 19th. Philip Morris International’s dividend payout ratio (DPR) is currently 90.17%.

A number of brokerages have issued reports on PM. Zacks Investment Research cut Philip Morris International from a “hold” rating to a “sell” rating and set a $74.00 target price for the company. in a report on Wednesday, May 13th. Stifel Nicolaus raised their price target on shares of Philip Morris International from $85.00 to $90.00 in a research note on Wednesday, July 22nd. Panmure Gordon raised Philip Morris International from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Friday, April 3rd. ValuEngine raised Philip Morris International from a “sell” rating to a “hold” rating in a research note on Monday, July 20th. Finally, Citigroup reaffirmed a “hold” rating and set a $75.00 target price on shares of Philip Morris International in a research note on Tuesday, June 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $90.21.

Philip Morris International Profile

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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