Illinois Municipal Retirement Fund Increases Holdings in Philip Morris International Inc. $PM

Illinois Municipal Retirement Fund raised its position in Philip Morris International Inc. (NYSE:PM) by 88.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 282,435 shares of the company’s stock after purchasing an additional 132,690 shares during the period. Philip Morris International accounts for 0.7% of Illinois Municipal Retirement Fund’s investment portfolio, making the stock its 14th biggest position. Illinois Municipal Retirement Fund’s holdings in Philip Morris International were worth $51,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. PFS Partners LLC increased its position in shares of Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock valued at $53,000 after purchasing an additional 58 shares during the last quarter. Uncommon Cents Investing LLC boosted its position in Philip Morris International by 1.1% during the 2nd 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. increased its holdings in Philip Morris International by 2.5% during the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock valued at $411,000 after purchasing an additional 62 shares during the period. Cranbrook Wealth Management LLC increased its stake in shares of 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 stake in Philip Morris International by 3.3% in the first quarter. Renasant Bank now owns 1,994 shares of the company’s stock worth $317,000 after buying an additional 63 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. KGI Securities started coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. Finally, Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. Twelve analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Price Performance

PM stock opened at $153.26 on Monday. The business has a 50-day moving average price of $158.30 and a 200 day moving average price of $168.38. Philip Morris International Inc. has a 1-year low of $116.12 and a 1-year high of $186.69. The company has a market capitalization of $238.58 billion, a P/E ratio of 27.77, a PEG ratio of 2.22 and a beta of 0.43.

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 net margin of 9.33% and a negative return on equity of 122.14%. The business had revenue of $8.12 billion during the quarter. On average, 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 business also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is 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.