Philip Morris International Inc. (NYSE:PM) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,050,200 shares of the company’s stock after selling 18,600 shares during the quarter. New York State Common Retirement Fund owned 0.13% of Philip Morris International worth $246,742,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. White Lighthouse Investment Management Inc. boosted its holdings in shares of Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after acquiring an additional 4,999 shares during the period. Range Financial Group LLC lifted its position in Philip Morris International by 504.9% in the 4th quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock valued at $2,758,000 after purchasing an additional 19,127 shares during the last quarter. Accredited Investors Inc. boosted its stake in Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after purchasing an additional 201,294 shares during the period. Park Avenue Securities LLC grew its position in Philip Morris International by 18.9% in the 4th quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after purchasing an additional 16,035 shares during the last quarter. Finally, CWA Asset Management Group LLC raised its holdings in shares of Philip Morris International by 37.5% during the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock valued at $2,912,000 after buying an additional 6,605 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 1.1 %

PM opened at $148.85 on Wednesday. The firm has a market capitalization of $231.43 billion, a P/E ratio of 33.00, a PEG ratio of 2.63 and a beta of 0.55. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $151.22. The stock has a fifty day moving average of $128.31 and a 200-day moving average of $125.73.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. On average, analysts expect that Philip Morris International Inc. will post 7.13 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Analyst Ratings Changes

Several brokerages have weighed in on PM. StockNews.com downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group upped their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Morgan Stanley initiated coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $141.22.

Insider Transactions at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the transaction, the vice president now owns 20,799 shares in the company, valued at approximately $3,117,354.12. This represents a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

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.