Cobiz Wealth LLC decreased its stake in Philip Morris International Inc (NYSE:PM) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,012 shares of the company’s stock after selling 69 shares during the period. Cobiz Wealth LLC’s holdings in Philip Morris International were worth $236,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Welch Investments LLC purchased a new stake in Philip Morris International during the 1st quarter valued at $113,000. American Beacon Advisors Inc. purchased a new stake in shares of Philip Morris International in the 1st quarter worth about $114,000. Gemmer Asset Management LLC lifted its position in shares of Philip Morris International by 40.6% in the 1st quarter. Gemmer Asset Management LLC now owns 1,115 shares of the company’s stock worth $126,000 after purchasing an additional 322 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its position in shares of Philip Morris International by 75.0% in the 1st 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 period. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Philip Morris International in the 2nd quarter worth about $206,000. 72.01% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on PM shares. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $133.00 target price (down from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Bank of America Corporation raised their target price on shares of Philip Morris International from $120.00 to $123.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 30th. BidaskClub cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $120.00 target price (down from $121.00) on shares of Philip Morris International in a research report on Thursday, August 24th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $122.79.

TRADEMARK VIOLATION WARNING: “Philip Morris International Inc (PM) Shares Sold by Cobiz Wealth LLC” was published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.watchlistnews.com/philip-morris-international-inc-pm-shares-sold-by-cobiz-wealth-llc/1583272.html.

Philip Morris International Inc (PM) traded down 0.36% during trading on Friday, hitting $112.51. 2,998,988 shares of the company were exchanged. Philip Morris International Inc has a 1-year low of $86.78 and a 1-year high of $123.55. The stock has a market capitalization of $174.75 billion, a PE ratio of 24.93 and a beta of 0.94. The firm’s 50 day moving average price is $116.11 and its 200-day moving average price is $115.73.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.09). The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. Philip Morris International’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 business earned $1.15 EPS. Equities analysts predict that Philip Morris International Inc will post $4.83 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be paid a dividend of $1.07 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.80%. Philip Morris International’s dividend payout ratio (DPR) is presently 92.24%.

In other news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction that occurred 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 document filed with the SEC, which is available at the SEC website. 0.23% of the stock is owned by company insiders.

Philip Morris International Profile

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.

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 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.