New York State Teachers Retirement System Has $211.24 Million Stake in Philip Morris International Inc. (NYSE:PM)

New York State Teachers Retirement System trimmed its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,330,821 shares of the company's stock after selling 43,088 shares during the period. Philip Morris International comprises about 0.5% of New York State Teachers Retirement System's investment portfolio, making the stock its 28th largest position. New York State Teachers Retirement System owned 0.09% of Philip Morris International worth $211,241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. NewSquare Capital LLC raised its position in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock worth $25,000 after purchasing an additional 72 shares during the last quarter. Pacifica Partners Inc. increased its holdings 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 worth $35,000 after acquiring an additional 115 shares in the last quarter. Knuff & Co LLC bought a new position in Philip Morris International in the fourth quarter valued at approximately $36,000. Ball & Co Wealth Management Inc. bought a new position in Philip Morris International during the 4th quarter worth about $36,000. Finally, Ameriflex Group Inc. bought a new position in shares of Philip Morris International during the 4th quarter worth approximately $36,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Down 2.5%

PM traded down $4.58 during midday trading on Tuesday, hitting $177.55. 5,176,261 shares of the company were exchanged, compared to its average volume of 5,623,244. The firm's 50 day moving average price is $176.36 and its 200-day moving average price is $153.54. Philip Morris International Inc. has a 1-year low of $100.80 and a 1-year high of $186.69. The firm has a market capitalization of $276.36 billion, a P/E ratio of 36.61, a P/E/G ratio of 2.64 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 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 business had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter last year, the firm posted $1.50 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 111.34%.

Wall Street Analyst Weigh In

PM has been the subject of several recent research reports. Bank of America increased their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Stifel Nicolaus lifted their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Citigroup lifted their price objective on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and increased their price target for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Barclays reiterated an "overweight" rating and issued a $220.00 target price (up previously from $205.00) on shares of Philip Morris International in a research report on Friday, June 13th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

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.