Public Employees Retirement System of Ohio Trims Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Public Employees Retirement System of Ohio lowered its position in Philip Morris International Inc. (NYSE:PM) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 699,319 shares of the company’s stock after selling 61,139 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Philip Morris International were worth $84,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewSquare Capital LLC raised its stake in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares during the last quarter. McClarren Financial Advisors Inc. purchased a new position in Philip Morris International in the fourth quarter worth $33,000. Knuff & Co LLC purchased a new position in Philip Morris International in the fourth quarter worth $36,000. Sierra Ocean LLC purchased a new position in Philip Morris International in the fourth quarter worth $37,000. Finally, Transce3nd LLC purchased a new position in Philip Morris International in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Up 0.3%

PM opened at $175.23 on Friday. The firm has a market cap of $272.75 billion, a P/E ratio of 38.85, a PEG ratio of 2.65 and a beta of 0.50. Philip Morris International Inc. has a 52 week low of $98.93 and a 52 week high of $176.49. The business’s fifty day simple moving average is $162.11 and its 200 day simple moving average is $143.44.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.08. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 earnings per share. As a group, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.08%. Philip Morris International’s dividend payout ratio (DPR) is presently 111.34%.

Insiders Place Their Bets

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now directly owns 26,828 shares of the company’s stock, valued at approximately $4,103,610.88. This trade represents a 12.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.13% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PM. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Barclays increased their price objective on Philip Morris International from $175.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Stifel Nicolaus upped their target price on Philip Morris International from $168.00 to $186.00 and gave the company a “buy” rating in a report on Thursday, April 24th. Citigroup upped their target price on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $169.20.

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.