Waters Parkerson & CO. LLC owns $33.97 million in Philip Morris International Inc. (NYSE:PM)

Waters Parkerson & CO. LLC increased its position in Philip Morris International Inc. (NYSE:PM – Free Report) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 335,269 shares of the company’s stock after purchasing an additional 3,613 shares during the period. Philip Morris International accounts for approximately 1.8% of Waters Parkerson & CO’s portfolio. LLC, making the stock its 18th biggest holding. The holdings of Waters Parkerson & CO. LLC’s holdings in Philip Morris International were worth $33,973,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Philip Morris International by 0.4% in the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after purchasing an additional 481,636 shares during the period. Capital World Investors boosted its holdings in Philip Morris International by 1.5% in the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after purchasing an additional 1,684,992 shares during the last quarter. Capital Research Global Investors grew its position in Philip Morris International by 3.1% in the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after acquiring an additional 1,800,864 shares during the period. Bank of New York Mellon Corp raised its stake in Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Philip Morris International by 0.6% during the fourth quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after purchasing an additional 77,820 shares during the period. 78.63% of shares are currently owned by institutional investors.

Philip Morris International Stock Performance

PM opened at $119.77 on Friday. Philip Morris International Inc. it has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The firm has a 50-day moving average of $117.87 and a 200-day moving average of $104.35. The firm has a market cap of $186.19 billion, a P/E ratio of 23.39, a PEG ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM – Get Free Report ) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the firm earned $1.60 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International has increased its dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be given a $1.35 dividend. The ex-dividend date is Thursday, September 26. This represents an annualized dividend of $5.40 and a dividend yield of 4.51%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 105.47%.

Changes in Analyst Ratings

A number of research firms recently weighed in on PM. Stifel Nicolaus boosted their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Barclays upped their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Bank of America boosted their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th . One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target of $117.05, according to MarketBeat.com.

Check out the latest stock report on Philip Morris International

Insider activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of shares are currently held by corporate insiders.

About Philip Morris International

(Free Report)

Philip Morris International Inc operates as a tobacco company working to deliver a smoke-free future and a long-term evolving portfolio to include products outside the tobacco and nicotine sector. The company’s product portfolio consists primarily of cigarettes and smokeless products, including smokeless heat, vapor and oral nicotine products, primarily under the IQOS and ZYN brands; and consumer accessories such as lighters and matches.

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