The Grandfield & Dodd LLC reached $1,487,000 position of Philip Morris International Inc. (PM)

The Grandfield & Dodd LLC reached $1,487,000 position  of Philip Morris International Inc. (PM)

Grandfield & Dodd LLC maintained its stake in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, according to its most recent filing with the SEC. The firm owned 14,622 shares of the company’s stock at the end of the second quarter. Grandfield & Dodd LLC’s holdings in Philip Morris International were worth $1,487,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PM. State Street Corp raised its stake in shares of Philip Morris International by 3.3% in the first quarter. State Street Corp now owns 57,800,062 shares of the company’s stock valued at $5,670,770,000 after buying an additional 1,821,500 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Philip Morris International by 1.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 38,874,546 shares of the company’s stock valued at $3,813,982,000 after buying an additional 515,624 shares during the period. Geode Capital Management LLC raised its position in Philip Morris International by 2.3% in the first quarter. Geode Capital Management LLC now owns 12,641,394 shares of the company’s stock valued at $1,237,748,000 after buying an additional 288,621 shares during the period. TIAA CREF Investment Management LLC raised its position in Philip Morris International by 16.3% in the first quarter. TIAA CREF Investment Management LLC now owns 7,939,086 shares of the company’s stock valued at $778,904,000 after buying an additional 1,111,511 shares during the period. Finally, Royal Bank of Canada raised its position in Philip Morris International by 2.7% in the first quarter. Royal Bank of Canada now owns 5,273,883 shares of the company’s stock valued at $517,421,000 after buying an additional 140,669 shares during the period. Institutional investors and hedge funds own 71.15% of the company’s stock.

Shares of Philip Morris International Inc. (NYSE:PM) traded down 0.33% on Monday, hitting $95.51. The stock had a trading volume of 4,097,941 shares. Philip Morris International Inc. has a 12-month low of $83.27 and a 12-month high of $104.20. The company has a 50 day moving average of $98.68 and a 200-day moving average of $99.64. The firm has a market capitalization of $148.17 billion, a P/E ratio of 22.85 and a beta of 0.95.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.05. The firm earned $6.65 billion during the quarter, compared to the consensus estimate of $6.77 billion. Philip Morris International had a net margin of 8.84% and a negative return on equity of 57.28%. During the same period in the previous year, the company posted $1.21 earnings per share. Equities analysts predict that Philip Morris International Inc. will post $4.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 13th. Stockholders of record on Wednesday, September 28th were issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 4.36%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.02. The ex-dividend date was Monday, September 26th. Philip Morris International’s dividend payout ratio is presently 99.52%.

PM has been the topic of several recent research reports. Goldman Sachs Group Inc. restated a “buy” rating and set a $116.00 target price on shares of Philip Morris International in a report on Saturday. Jefferies Group set a $99.00 target price on Philip Morris International and gave the company a “hold” rating in a report on Wednesday, October 5th. Wells Fargo & Co. restated an “outperform” rating and set a $115.00 target price on shares of Philip Morris International in a report on Thursday, September 22nd. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Finally, Vetr upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Tuesday, September 13th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $105.63.

About Philip Morris International

Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

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