Shayne & CO. LLC lowered its position in Philip Morris International Inc. (NYSE:PM) by 7.4% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,699 shares of the company’s stock after selling 700 shares during the period. Philip Morris International makes up 0.7% of Shayne & CO. LLC’s holdings, making the stock its 13th largest position. Shayne & CO. LLC’s holdings in Philip Morris International were worth $885,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. LPL Financial LLC raised its position in Philip Morris International by 4.6% in the first quarter. LPL Financial LLC now owns 541,038 shares of the company’s stock valued at $54,209,000 after buying an additional 23,687 shares in the last quarter. Avalon Advisors LLC raised its position in Philip Morris International by 1.8% in the first quarter. Avalon Advisors LLC now owns 315,696 shares of the company’s stock valued at $30,973,000 after buying an additional 5,528 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its position in Philip Morris International by 34.8% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 349,682 shares of the company’s stock valued at $35,570,000 after buying an additional 90,355 shares in the last quarter. First Republic Investment Management Inc. raised its position in Philip Morris International by 12.3% in the first quarter. First Republic Investment Management Inc. now owns 384,210 shares of the company’s stock valued at $37,695,000 after buying an additional 42,090 shares in the last quarter. Finally, Thomaspartners Inc. raised its position in Philip Morris International by 1.3% in the first quarter. Thomaspartners Inc. now owns 1,636,297 shares of the company’s stock valued at $160,537,000 after buying an additional 21,024 shares in the last quarter. 71.61% of the stock is currently owned by institutional investors.

Philip Morris International Inc. (NYSE:PM) traded down 0.91% during mid-day trading on Friday, hitting $98.84. 5,852,325 shares of the stock were exchanged. Philip Morris International Inc. has a 12-month low of $78.03 and a 12-month high of $104.20. The firm has a 50-day moving average price of $99.72 and a 200-day moving average price of $99.36. The stock has a market capitalization of $153.33 billion, a P/E ratio of 23.65 and a beta of 0.97.

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

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

Several equities analysts have recently commented on the stock. SBG Securities upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Citigroup Inc. initiated coverage on shares of Philip Morris International in a research report on Tuesday, September 13th. They issued a “neutral” rating and a $106.00 target price for the company. Wells Fargo & Co. reiterated an “outperform” rating on shares of Philip Morris International in a research report on Tuesday, July 19th. Vetr upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $104.50 target price for the company in a research report on Monday, May 23rd. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $105.00 target price (up previously from $99.00) on shares of Philip Morris International in a research report on Friday, July 15th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $104.73.

About Philip Morris International

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

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM).

Receive News & Ratings for Philip Morris International Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.