Municipal Employees Retirement System of Michigan lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 14.1% in the third quarter, HoldingsChannel reports. The firm owned 64,450 shares of the company’s stock after selling 10,600 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Philip Morris International were worth $7,155,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PM. USA Mutuals Advisors Inc. boosted its position in Philip Morris International by 2.5% during the first quarter. USA Mutuals Advisors Inc. now owns 102,500 shares of the company’s stock worth $11,572,000 after acquiring an additional 2,500 shares during the last quarter. IHT Wealth Management LLC boosted its position in Philip Morris International by 24.8% during the first quarter. IHT Wealth Management LLC now owns 4,779 shares of the company’s stock worth $541,000 after acquiring an additional 950 shares during the last quarter. Green Square Capital LLC acquired a new position in Philip Morris International during the first quarter worth about $240,000. Kimelman & Baird LLC boosted its position in Philip Morris International by 6.8% during the first quarter. Kimelman & Baird LLC now owns 2,515 shares of the company’s stock worth $284,000 after acquiring an additional 160 shares during the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new position in Philip Morris International during the second quarter worth about $206,000. 72.36% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Inc. (NYSE PM) opened at $104.14 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91. The firm has a market cap of $161,750.00, a PE ratio of 22.99, a price-to-earnings-growth ratio of 1.88 and a beta of 0.89. Philip Morris International Inc. has a fifty-two week low of $89.97 and a fifty-two week high of $123.55.

Philip Morris International (NYSE:PM) last posted its earnings results on Thursday, October 19th. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.11). The firm had revenue of $7.50 billion during the quarter, compared to analyst estimates of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. equities research analysts predict that Philip Morris International Inc. will post 4.75 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 11th. Shareholders of record on Thursday, December 21st will be issued a $1.07 dividend. The ex-dividend date is Wednesday, December 20th. This represents a $4.28 annualized dividend and a yield of 4.11%. Philip Morris International’s payout ratio is 94.48%.

A number of equities analysts recently weighed in on PM shares. Piper Jaffray Companies set a $130.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Thursday, November 16th. Jefferies Group lowered their price target on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday, October 12th. Societe Generale upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Finally, Bank of America lowered their price target on shares of Philip Morris International from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $124.23.

In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

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Philip Morris International Company 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.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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