Philip Morris International Inc. (NYSE:PM) Shares Bought by Rainier Group Investment Advisory LLC

Rainier Group Investment Advisory LLC raised its stake in Philip Morris International Inc. (NYSE:PM) by 9.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,210 shares of the company’s stock after acquiring an additional 290 shares during the period. Rainier Group Investment Advisory LLC’s holdings in Philip Morris International were worth $252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Dupont Capital Management Corp raised its holdings in shares of Philip Morris International by 39.3% in 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 last quarter. Capital Wealth Management LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at about $234,000. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Philip Morris International by 11.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 558,230 shares of the company’s stock valued at $43,838,000 after buying an additional 57,445 shares during the last quarter. Keystone Financial Group raised its holdings in shares of Philip Morris International by 1.0% in the first quarter. Keystone Financial Group now owns 16,521 shares of the company’s stock valued at $1,460,000 after buying an additional 165 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Philip Morris International by 41.5% in the second quarter. Invesco Ltd. now owns 30,080,523 shares of the company’s stock valued at $2,362,224,000 after buying an additional 8,824,567 shares during the last quarter. Institutional investors own 74.11% of the company’s stock.

In other Philip Morris International news, insider Mario Masseroli sold 1,100 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were 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 Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.21% of the company’s stock.

NYSE PM traded down $0.51 during trading hours on Friday, hitting $71.20. 14,407,779 shares of the stock were exchanged, compared to its average volume of 9,439,439. The company has a market cap of $111.34 billion, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.75 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 has a 50-day moving average of $78.01 and a 200 day moving average of $82.48.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.13. Philip Morris International had a net margin of 10.03% and a negative return on equity of 80.96%. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.42 billion. During the same period in the prior year, the company posted $1.41 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 5.2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 25th will be issued a $1.17 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.14. This represents a $4.68 dividend on an annualized basis and a yield of 6.57%. Philip Morris International’s dividend payout ratio (DPR) is 89.41%.

PM has been the subject of a number of research reports. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, September 4th. Cowen reissued a “hold” rating on shares of Philip Morris International in a report on Thursday, September 12th. ValuEngine cut shares of 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 shares of Philip Morris International and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Barclays raised shares of Philip Morris International from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $82.00 to $100.00 in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $93.77.

About Philip Morris International

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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