Deroy & Devereaux Private Investment Counsel Inc. continued to hold its stake in Philip Morris International Inc (NYSE:PM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,780 shares of the company’s stock at the close of the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc.’s holdings in Philip Morris International were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Welch Investments LLC purchased a new stake in shares of Philip Morris International during the first quarter worth approximately $113,000. American Beacon Advisors Inc. purchased a new stake in shares of Philip Morris International during the first quarter worth approximately $114,000. Acropolis Investment Management LLC raised its stake in shares of Philip Morris International by 0.5% during the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after purchasing an additional 5 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of Philip Morris International by 75.0% during the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 1,750 shares of the company’s stock worth $198,000 after purchasing an additional 750 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. raised its stake in shares of Philip Morris International by 23.2% during the first quarter. Sterling Investment Advisors Ltd. now owns 1,765 shares of the company’s stock worth $199,000 after purchasing an additional 332 shares during the last quarter. Institutional investors own 72.01% of the company’s stock.

Several equities research analysts have recently commented on PM shares. Vetr upgraded Philip Morris International from a “sell” rating to a “hold” rating and set a $119.00 price target for the company in a research note on Wednesday, June 7th. Wells Fargo & Company restated an “outperform” rating on shares of Philip Morris International in a research note on Friday, June 9th. BidaskClub cut Philip Morris International from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Jefferies Group LLC restated a “hold” rating and set a $121.00 price target on shares of Philip Morris International in a research note on Tuesday, June 20th. Finally, Berenberg Bank set a $96.00 price target on Philip Morris International and gave the stock a “hold” rating in a research note on Saturday, June 24th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Philip Morris International has a consensus rating of “Buy” and an average price target of $123.92.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

Philip Morris International Inc (NYSE PM) opened at 111.42 on Thursday. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The firm has a 50-day moving average price of $115.11 and a 200 day moving average price of $115.76. The stock has a market cap of $173.06 billion, a PE ratio of 24.69 and a beta of 0.93.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.09). The business had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.15 EPS. Equities analysts anticipate that Philip Morris International Inc will post $4.83 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be paid a dividend of $1.07 per share. The ex-dividend date is Tuesday, September 26th. This represents a $4.28 annualized dividend and a yield of 3.84%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is presently 94.90%.

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About Philip Morris International

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.

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

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