Philip Morris International Inc. $PM Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System increased its stake in Philip Morris International Inc. (NYSE:PM) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 423,258 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. State of Michigan Retirement System’s holdings in Philip Morris International were worth $77,088,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. PFS Partners LLC raised its position in Philip Morris International by 24.8% during the second quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after buying an additional 58 shares during the period. Uncommon Cents Investing LLC raised its position in Philip Morris International by 1.1% during the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock valued at $1,032,000 after buying an additional 61 shares during the period. NFP Retirement Inc. raised its position in Philip Morris International by 2.5% during the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock valued at $411,000 after buying an additional 62 shares during the period. Cranbrook Wealth Management LLC raised its position in Philip Morris International by 6.5% during the second quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock valued at $185,000 after buying an additional 62 shares during the period. Finally, Renasant Bank raised its position in Philip Morris International by 3.3% during the first quarter. Renasant Bank now owns 1,994 shares of the company’s stock valued at $317,000 after buying an additional 63 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group dropped their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Wall Street Zen upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC restated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Barclays lowered their target price on 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. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $194.00.

Philip Morris International Price Performance

Shares of NYSE PM opened at $144.33 on Friday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The business’s 50-day moving average price is $160.05 and its two-hundred day moving average price is $168.86. The company has a market capitalization of $224.67 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 2.09 and a beta of 0.46.

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

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 4.1%. Philip Morris International’s dividend payout ratio is currently 106.52%.

Philip Morris International 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.