Arizona State Retirement System Buys 5,451 Shares of Philip Morris International Inc. (NYSE:PM)

Arizona State Retirement System increased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 456,301 shares of the company's stock after purchasing an additional 5,451 shares during the quarter. Philip Morris International makes up 0.5% of Arizona State Retirement System's investment portfolio, making the stock its 29th largest holding. Arizona State Retirement System's holdings in Philip Morris International were worth $72,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GQG Partners LLC increased its stake in Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares during the period. GAMMA Investing LLC increased its stake in shares of Philip Morris International by 19,986.5% in the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock worth $712,210,000 after acquiring an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after acquiring an additional 4,298,530 shares in the last quarter. Capital World Investors boosted its position in Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after purchasing an additional 4,216,586 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after purchasing an additional 3,185,258 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Trading Up 0.1%

Shares of Philip Morris International stock traded up $0.13 during midday trading on Tuesday, reaching $180.88. The company had a trading volume of 4,322,698 shares, compared to its average volume of 5,637,958. The stock has a fifty day simple moving average of $178.20 and a 200 day simple moving average of $157.41. The company has a market capitalization of $281.54 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 2.60 and a beta of 0.51. Philip Morris International Inc. has a 1-year low of $104.84 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the firm earned $1.50 EPS. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PM shares. UBS Group set a $181.00 price objective on Philip Morris International and gave the stock a "neutral" rating in a report on Monday. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday. Citigroup upped their target price on Philip Morris International from $188.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, July 10th. Morgan Stanley restated an "overweight" rating and set a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $186.73.

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.