Oppenheimer & Co. Inc. lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 124,345 shares of the company’s stock after selling 5,181 shares during the period. Oppenheimer & Co. Inc.’s holdings in Philip Morris International were worth $12,648,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PM. Acropolis Investment Management LLC raised its position in shares of Philip Morris International by 0.5% in the second quarter. Acropolis Investment Management LLC now owns 1,054 shares of the company’s stock worth $107,000 after buying an additional 5 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Philip Morris International during the second quarter worth $113,000. FNY Managed Accounts LLC raised its position in shares of Philip Morris International by 257.1% in the second quarter. FNY Managed Accounts LLC now owns 1,250 shares of the company’s stock worth $127,000 after buying an additional 900 shares during the last quarter. RKL Wealth Management LLC purchased a new position in shares of Philip Morris International during the second quarter worth $179,000. Finally, CWM LLC raised its position in shares of Philip Morris International by 349.2% in the second quarter. CWM LLC now owns 1,770 shares of the company’s stock worth $180,000 after buying an additional 1,376 shares during the last quarter. 71.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of Philip Morris International Inc. (NYSE:PM) traded up 0.562% during mid-day trading on Tuesday, reaching $99.375. 2,003,849 shares of the company’s stock traded hands. The company has a market cap of $154.16 billion, a P/E ratio of 23.774 and a beta of 0.97. Philip Morris International Inc. has a 12-month low of $78.03 and a 12-month high of $104.20. The company’s 50 day moving average is $99.74 and its 200 day moving average is $99.57.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.05. Philip Morris International had a negative return on equity of 57.28% and a net margin of 8.84%. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.77 billion. During the same period last year, the business earned $1.21 EPS. On average, analysts predict that Philip Morris International Inc. will post $4.49 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Wednesday, September 28th will be issued a dividend of $1.04 per share. This represents a $4.16 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Monday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.02. Philip Morris International’s dividend payout ratio (DPR) is 97.61%.

A number of equities analysts recently weighed in on PM shares. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Goldman Sachs Group Inc. upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $106.00 to $114.00 in a report on Monday, September 12th. Vetr upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 target price for the company in a research note on Tuesday, September 13th. JPMorgan Chase & Co. upgraded shares of Philip Morris International from a “neutral” rating to an “overweight” rating and set a $112.00 target price for the company in a research note on Friday, June 17th. Finally, Wells Fargo & Co. reiterated an “outperform” rating on shares of Philip Morris International in a research note on Thursday, September 15th. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $104.60.

Philip Morris International Company Profile

Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

5 Day Chart for NYSE:PM

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