Philip Morris International Inc. (NYSE:PM) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas decreased its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 170,972 shares of the company's stock after selling 2,508 shares during the quarter. Employees Retirement System of Texas' holdings in Philip Morris International were worth $20,576,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PM. NewSquare Capital LLC boosted its stake in shares of Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after buying an additional 72 shares during the last quarter. McClarren Financial Advisors Inc. acquired a new position in Philip Morris International in the fourth quarter valued at approximately $33,000. Knuff & Co LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analyst Weigh In

PM has been the subject of several analyst reports. Needham & Company LLC began coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $130.00 to $170.00 in a report on Friday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Stifel Nicolaus raised their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Finally, Citigroup lifted their price target on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus target price of $169.20.

Insider Activity at Philip Morris International

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

Philip Morris International Stock Performance

Shares of PM stock traded up $2.87 during trading hours on Friday, reaching $180.74. The company had a trading volume of 8,505,072 shares, compared to its average volume of 5,634,405. Philip Morris International Inc. has a 12-month low of $98.93 and a 12-month high of $181.36. The company has a market capitalization of $281.32 billion, a price-to-earnings ratio of 40.08, a PEG ratio of 2.65 and a beta of 0.50. The stock has a fifty day moving average of $165.26 and a 200-day moving average of $145.62.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the company earned $1.50 EPS. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.99%. Philip Morris International's payout ratio is currently 111.34%.

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.