Philip Morris International Inc. (NYSE:PM) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 20.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,224 shares of the company's stock after selling 11,513 shares during the quarter. Philip Morris International makes up approximately 0.5% of Kentucky Retirement Systems Insurance Trust Fund's holdings, making the stock its 28th biggest holding. Kentucky Retirement Systems Insurance Trust Fund's holdings in Philip Morris International were worth $7,178,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PM. Brighton Jones LLC grew its position in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after purchasing an additional 91 shares during the last quarter. Compass Capital Corp MA ADV bought a new position in Philip Morris International during the fourth quarter worth $293,000. Drum Hill Capital LLC acquired a new position in Philip Morris International in the fourth quarter worth $282,000. Finally, Navellier & Associates Inc. boosted its holdings in Philip Morris International by 63.7% in the fourth quarter. Navellier & Associates Inc. now owns 5,335 shares of the company's stock worth $642,000 after purchasing an additional 2,075 shares during the period. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Bank of America increased their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Citigroup increased their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Morgan Stanley restated an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Barclays reaffirmed an "overweight" rating and set a $220.00 target price (up from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $176.80.

Philip Morris International Stock Down 0.0%

PM stock traded down $0.04 during trading on Friday, reaching $182.57. 10,713,275 shares of the company's stock were exchanged, compared to its average volume of 5,631,735. Philip Morris International Inc. has a 1-year low of $99.86 and a 1-year high of $186.69. The firm has a market cap of $284.18 billion, a PE ratio of 37.64, a P/E/G ratio of 2.66 and a beta of 0.52. The company's fifty day moving average price is $173.82 and its 200-day moving average price is $151.27.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.08. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.50 earnings per share. As a group, sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

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.