Philip Morris International Inc. (NYSE:PM) Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 11.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 149,745 shares of the company's stock after buying an additional 15,700 shares during the period. Illinois Municipal Retirement Fund's holdings in Philip Morris International were worth $23,769,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PM. GQG Partners LLC lifted its stake in shares of Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after purchasing an additional 6,092,558 shares in the last quarter. GAMMA Investing LLC lifted its position in Philip Morris International by 19,986.5% during the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Philip Morris International during the fourth quarter valued at approximately $522,214,000. Kovitz Investment Group Partners LLC grew its stake in Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after buying an additional 4,298,530 shares during the period. Finally, Capital World Investors raised its stake in shares of Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock valued at $14,752,926,000 after acquiring an additional 4,216,586 shares during the period. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

NYSE:PM traded up $0.45 during mid-day trading on Friday, reaching $181.11. The stock had a trading volume of 7,043,892 shares, compared to its average volume of 5,616,460. The company has a market capitalization of $281.90 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 2.60 and a beta of 0.52. Philip Morris International Inc. has a 1-year low of $100.80 and a 1-year high of $186.69. The stock's 50 day simple moving average is $175.60 and its two-hundred day simple moving average is $152.43.

Philip Morris International (NYSE:PM - Get Free Report) last issued 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 company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the firm earned $1.50 EPS. The business's revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 2.98%. Philip Morris International's payout ratio is 111.34%.

Analyst Ratings Changes

PM has been the subject of several recent research reports. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and increased their price target for the company from $130.00 to $170.00 in a report on Friday, April 25th. Barclays reiterated 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. Argus raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Citigroup boosted their target price on shares of Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $176.80.

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.