Zurich Insurance Group Ltd FI lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,232 shares of the company’s stock after selling 3,457 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Philip Morris International were worth $20,515,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PM. Morgan Stanley lifted its holdings in shares of Philip Morris International by 16.9% during the second quarter. Morgan Stanley now owns 34,485,714 shares of the company’s stock worth $2,708,164,000 after buying an additional 4,998,070 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Philip Morris International by 56.3% during the second quarter. AQR Capital Management LLC now owns 4,619,770 shares of the company’s stock worth $360,204,000 after buying an additional 1,663,264 shares during the last quarter. Capital Bank & Trust Co lifted its holdings in shares of Philip Morris International by 2.0% during the second quarter. Capital Bank & Trust Co now owns 1,119,882 shares of the company’s stock worth $87,875,000 after buying an additional 22,442 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Philip Morris International by 11.7% during the second quarter. HBK Sorce Advisory LLC now owns 34,881 shares of the company’s stock worth $3,548,000 after buying an additional 3,665 shares during the last quarter. Finally, Balyasny Asset Management LLC lifted its holdings in shares of Philip Morris International by 54.4% during the second quarter. Balyasny Asset Management LLC now owns 533,970 shares of the company’s stock worth $41,933,000 after buying an additional 188,193 shares during the last quarter. 74.11% of the stock is currently owned by institutional investors.

Shares of PM traded down $0.07 on Friday, reaching $71.64. 333,304 shares of the stock traded hands, compared to its average volume of 9,235,223. The firm has a market cap of $112.05 billion, a price-to-earnings ratio of 14.04, a P/E/G ratio of 1.76 and a beta of 0.99. Philip Morris International Inc. has a 12 month low of $64.67 and a 12 month high of $92.74. The stock’s 50-day moving average price is $78.25 and its 200-day moving average price is $82.56.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.13. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.42 billion. Philip Morris International had a negative return on equity of 80.96% and a net margin of 10.03%. Philip Morris International’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $1.41 earnings per share. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 5.2 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th will be given a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a yield of 6.53%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. The ex-dividend date of this dividend is Tuesday, September 24th. Philip Morris International’s dividend payout ratio is 89.41%.

A number of research analysts have recently commented on PM shares. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the stock a “buy” rating in a report on Monday, August 26th. JPMorgan Chase & Co. set a $86.00 price target on Philip Morris International and gave the stock a “neutral” rating in a report on Wednesday, August 28th. Morgan Stanley cut their price target on Philip Morris International from $94.00 to $86.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Credit Suisse Group set a $80.00 price objective on Philip Morris International and gave the company a “sell” rating in a research report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $93.77.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $87.42, for a total value of $96,162.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Philip Morris International Company 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.

See Also: FAANG Stocks

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).

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

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