New York State Common Retirement Fund Has $300.70 Million Stock Holdings in Philip Morris International Inc. (NYSE:PM)

New York State Common Retirement Fund lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,894,400 shares of the company's stock after selling 155,800 shares during the quarter. New York State Common Retirement Fund owned about 0.12% of Philip Morris International worth $300,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Pacifica Partners Inc. grew its position in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in Philip Morris International during the 1st quarter valued at approximately $35,000. Inlight Wealth Management LLC acquired a new stake in Philip Morris International in the 1st quarter valued at approximately $38,000. Ameriflex Group Inc. bought a new position in Philip Morris International in the 4th quarter worth approximately $36,000. Finally, Ball & Co Wealth Management Inc. acquired a new position in shares of Philip Morris International during the fourth quarter worth approximately $36,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

PM has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday. Jefferies Financial Group started coverage on shares of Philip Morris International in a research report on Wednesday. They issued a "buy" rating and a $220.00 price target on the stock. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday. Needham & Company LLC started coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Finally, Bank of America boosted their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $185.73.

Philip Morris International Price Performance

Shares of PM traded down $1.26 during mid-day trading on Friday, reaching $179.73. The company had a trading volume of 3,430,602 shares, compared to its average volume of 5,643,398. The company has a market capitalization of $279.75 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.61 and a beta of 0.51. Philip Morris International Inc. has a twelve month low of $104.84 and a twelve month high of $186.69. The company's 50-day moving average is $178.05 and its 200-day moving average is $156.75.

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

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, June 27th. Philip Morris International's payout ratio is 111.34%.

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.