QCI Asset Management Inc. NY Has $74,000 Stake in Philip Morris International Inc. (NYSE:PM)

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QCI Asset Management Inc. NY trimmed its position in shares of Philip Morris International Inc. (NYSE:PM) by 21.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 944 shares of the company’s stock after selling 261 shares during the quarter. QCI Asset Management Inc. NY’s holdings in Philip Morris International were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in Philip Morris International by 5.1% in the 2nd quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after buying an additional 4,879,296 shares during the period. Renaissance Technologies LLC increased its position in Philip Morris International by 67.0% in the 2nd quarter. Renaissance Technologies LLC now owns 3,663,243 shares of the company’s stock worth $287,674,000 after buying an additional 1,470,000 shares during the period. Prudential Financial Inc. increased its position in Philip Morris International by 65.7% in the 2nd quarter. Prudential Financial Inc. now owns 3,418,331 shares of the company’s stock worth $268,442,000 after buying an additional 1,354,878 shares during the period. Natixis increased its position in Philip Morris International by 232.1% in the 2nd quarter. Natixis now owns 1,763,084 shares of the company’s stock worth $138,455,000 after buying an additional 1,232,153 shares during the period. Finally, Toronto Dominion Bank increased its position in Philip Morris International by 60.5% in the 2nd quarter. Toronto Dominion Bank now owns 1,920,144 shares of the company’s stock worth $150,750,000 after buying an additional 723,701 shares during the period. Institutional investors and hedge funds own 74.11% of the company’s stock.

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. Insiders own 0.21% of the company’s stock.

Several research analysts have commented on the company. Morgan Stanley dropped their price target 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. ValuEngine downgraded Philip Morris International from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Barclays raised Philip Morris International from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $82.00 to $100.00 in a research report on Friday, July 19th. Wells Fargo & Co set a $102.00 price target on Philip Morris International and gave the stock a “buy” rating in a research report on Monday, August 26th. Finally, Cowen reaffirmed a “hold” rating on shares of Philip Morris International in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $93.77.

Shares of PM traded down $0.12 on Wednesday, reaching $71.90. 971,107 shares of the stock traded hands, compared to its average volume of 8,657,704. The firm has a market cap of $113.65 billion, a price-to-earnings ratio of 14.10, a P/E/G ratio of 1.79 and a beta of 1.00. 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 $78.83 and its 200-day moving average price is $82.72.

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 company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 25th will be given a dividend of $1.17 per share. 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 dividend yield of 6.51%. Philip Morris International’s payout ratio is currently 89.41%.

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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