Laurel Wealth Advisors Inc. lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,653 shares of the company’s stock after purchasing an additional 356 shares during the period. Laurel Wealth Advisors Inc.’s holdings in Philip Morris International were worth $1,622,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp raised its position in Philip Morris International by 39.3% during the second quarter. Dupont Capital Management Corp now owns 194,221 shares of the company’s stock valued at $15,252,000 after buying an additional 54,796 shares during the period. Capital Wealth Management LLC acquired a new position in Philip Morris International in the 1st quarter worth about $234,000. Los Angeles Capital Management & Equity Research Inc. increased its position in Philip Morris International by 11.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 558,230 shares of the company’s stock worth $43,838,000 after purchasing an additional 57,445 shares during the last quarter. Keystone Financial Group increased its position in Philip Morris International by 1.0% in the 1st quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock worth $1,460,000 after purchasing an additional 165 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Philip Morris International by 1.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 84,991 shares of the company’s stock worth $6,675,000 after purchasing an additional 961 shares during the last quarter. 74.59% of the stock is currently owned by institutional investors.

NYSE:PM traded down $0.45 during mid-day trading on Friday, hitting $74.45. 681,222 shares of the company’s stock traded hands, compared to its average volume of 8,091,031. The firm has a 50 day moving average of $80.12 and a two-hundred day moving average of $83.07. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $92.74. The firm has a market capitalization of $115.66 billion, a price-to-earnings ratio of 14.60, a price-to-earnings-growth ratio of 1.82 and a beta of 0.99.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 18th. The company reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.13. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. The firm had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the company earned $1.41 EPS. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts forecast that Philip Morris International Inc. will post 5.21 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 25th will be paid a dividend of $1.17 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date is Tuesday, September 24th. This represents a $4.68 annualized dividend and a yield of 6.29%. Philip Morris International’s dividend payout ratio is presently 89.41%.

In related news, insider Mario Masseroli sold 1,100 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total transaction of $96,162.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.21% of the stock is owned by corporate insiders.

PM has been the topic of several research reports. Credit Suisse Group set a $80.00 target price on Philip Morris International and gave the stock a “sell” rating in a research report on Wednesday, August 28th. Morgan Stanley dropped their target price on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, September 4th. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Barclays upgraded Philip Morris International from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $82.00 to $100.00 in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $93.77.

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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