New York State Teachers Retirement System Sells 2,406 Shares of Philip Morris International Inc. $PM

Key Points

• The New York State Teachers Retirement System reduced its holdings in Philip Morris International by 0.2%, selling 2,406 shares in the second quarter, leaving it with 1,328,415 shares, valued at approximately $241.9 million.
• Philip Morris International has seen various institutional investors adjust their stakes, with PFS Partners LLC increasing its position by 24.8% recently.
• The company recently declared an increased quarterly dividend of $1.47 per share, announcing a payout ratio of 111.79% and an annualized yield of 3.7%.

New York State Teachers Retirement System trimmed its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 0.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,328,415 shares of the company's stock after selling 2,406 shares during the period. Philip Morris International comprises 0.5% of New York State Teachers Retirement System's investment portfolio, making the stock its 26th biggest position. New York State Teachers Retirement System owned approximately 0.09% of Philip Morris International worth $241,944,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PM. PFS Partners LLC boosted its position in Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company's stock valued at $53,000 after buying an additional 58 shares during the period. Perigon Wealth Management LLC lifted its position in shares of Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after purchasing an additional 60 shares during the period. TBH Global Asset Management LLC lifted its position in shares of Philip Morris International by 0.9% in the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after purchasing an additional 61 shares during the period. Uncommon Cents Investing LLC lifted its position in shares of Philip Morris International by 1.1% in the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company's stock worth $1,032,000 after purchasing an additional 61 shares during the period. Finally, NFP Retirement Inc. lifted its position in shares of Philip Morris International by 2.5% in the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock worth $411,000 after purchasing an additional 62 shares during the period. 78.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price for the company. Barclays dropped their target price on shares of Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a research report on Wednesday, July 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $195.44.

Philip Morris International Price Performance

Shares of NYSE PM opened at $157.88 on Thursday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The stock has a market cap of $245.75 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 2.32 and a beta of 0.46. The firm has a 50-day moving average of $163.89 and a 200 day moving average of $168.75.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $8.12 billion during the quarter. Research analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Investors of record on Friday, October 3rd will be given a dividend of $1.47 per share. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 3.7%. Philip Morris International's dividend payout ratio is 111.79%.

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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.