Meeder Asset Management Inc. lowered its holdings in shares of Philip Morris International Inc (NYSE:PM) by 66.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,676 shares of the company’s stock after selling 7,160 shares during the quarter. Meeder Asset Management Inc.’s holdings in Philip Morris International were worth $432,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PM. Acropolis Investment Management LLC boosted its holdings in Philip Morris International by 0.5% in 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 in the last quarter. Hudock Capital Group LLC increased its position in Philip Morris International by 0.3% during the first quarter. Hudock Capital Group LLC now owns 3,136 shares of the company’s stock worth $354,000 after buying an additional 10 shares during the last quarter. Argent Capital Management LLC increased its position in Philip Morris International by 0.6% during the first quarter. Argent Capital Management LLC now owns 3,260 shares of the company’s stock worth $368,000 after buying an additional 20 shares during the last quarter. Stillwater Investment Management LLC increased its position in Philip Morris International by 0.8% during the second quarter. Stillwater Investment Management LLC now owns 2,956 shares of the company’s stock worth $347,000 after buying an additional 23 shares during the last quarter. Finally, Klingman & Associates LLC increased its position in Philip Morris International by 1.1% during the first quarter. Klingman & Associates LLC now owns 2,442 shares of the company’s stock worth $276,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 72.01% of the company’s stock.

In related news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

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Shares of Philip Morris International Inc (NYSE:PM) traded up 0.07% during midday trading on Monday, hitting $111.09. 1,405,159 shares of the stock traded hands. The firm’s 50 day moving average price is $116.11 and its 200 day moving average price is $115.73. The company has a market capitalization of $172.54 billion, a PE ratio of 24.62 and a beta of 0.93. Philip Morris International Inc has a 12-month low of $86.78 and a 12-month high of $123.55.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion during 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 for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 earnings per share. Analysts expect that Philip Morris International Inc will post $4.83 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Wednesday, September 27th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Tuesday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.86%. Philip Morris International’s payout ratio is presently 94.90%.

Several equities analysts have weighed in on PM shares. TheStreet upgraded Philip Morris International from a “c+” rating to a “b-” rating in a report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $133.00 price target (down previously from $134.00) on shares of Philip Morris International in a research note on Saturday, July 22nd. Zacks Investment Research upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Tuesday, July 11th. BidaskClub lowered Philip Morris International from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Vetr raised Philip Morris International from a “strong sell” rating to a “buy” rating and set a $128.00 price objective on the stock in a report on Monday, June 26th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $123.92.

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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