Teachers Retirement System of The State of Kentucky Decreases Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Teachers Retirement System of The State of Kentucky cut its stake in Philip Morris International Inc. (NYSE:PM) by 1.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 315,495 shares of the company’s stock after selling 3,679 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Philip Morris International were worth $31,969,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Diversify Advisory Services LLC acquired a new position in Philip Morris International in the 1st quarter valued at about $5,634,000. Axxcess Wealth Management LLC increased its stake in Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after acquiring an additional 6,974 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in Philip Morris International in the fourth quarter valued at $857,000. Pinebridge Investments L.P. lifted its stake in shares of Philip Morris International by 99.5% in the 4th quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after purchasing an additional 26,960 shares during the last quarter. Finally, Duality Advisers LP grew its holdings in shares of Philip Morris International by 165.6% during the 1st quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock worth $3,541,000 after purchasing an additional 24,093 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM stock opened at $121.39 on Tuesday. The business’s 50-day moving average is $119.88 and its two-hundred day moving average is $105.92. The firm has a market capitalization of $188.71 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.37 and a beta of 0.55. Philip Morris International Inc. has a 1 year low of $87.23 and a 1 year high of $128.22.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, analysts expect that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a dividend of $1.35 per share. The ex-dividend date is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.45%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 105.47%.

Insider Activity at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The stock was 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 of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Wilde Frederic De sold 20,000 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now 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 the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Bank of America upped their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. UBS Group lifted their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft upped their price target 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. Finally, Stifel Nicolaus lifted their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.14.

Philip Morris International Company Profile

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.