Philip Morris International Inc. $PM Position Lowered by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its holdings in Philip Morris International Inc. (NYSE:PM) by 1.0% during the second quarter, HoldingsChannel.com reports. The fund owned 754,194 shares of the company’s stock after selling 7,595 shares during the period. Retirement Systems of Alabama’s holdings in Philip Morris International were worth $137,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of PM. Abound Wealth Management lifted its holdings in Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International in the first quarter worth about $30,000. Briaud Financial Planning Inc lifted its holdings in Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 162 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd bought a new position in Philip Morris International in the first quarter worth about $34,000. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. KGI Securities assumed coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Barclays dropped their price target on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Morgan Stanley set a $175.00 price target on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Price Performance

NYSE PM opened at $146.58 on Thursday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The firm has a market capitalization of $228.17 billion, a PE ratio of 26.55, a P/E/G ratio of 2.17 and a beta of 0.46. The company’s 50 day simple moving average is $161.17 and its 200 day simple moving average is $169.05.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The firm had revenue of $8.12 billion for the quarter. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a yield of 4.0%. Philip Morris International’s dividend payout ratio is presently 106.52%.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.