Teacher Retirement System of Texas Sells 536,032 Shares of Philip Morris International Inc. (NYSE:PM)

Teacher Retirement System of Texas lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 45.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 632,521 shares of the company's stock after selling 536,032 shares during the period. Teacher Retirement System of Texas' holdings in Philip Morris International were worth $100,400,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Perigon Wealth Management LLC increased its holdings in shares of Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after acquiring an additional 60 shares during the last quarter. TBH Global Asset Management LLC increased its holdings in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after acquiring an additional 61 shares during the last quarter. Capital Advisors Wealth Management LLC increased its holdings in shares of Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock worth $477,000 after acquiring an additional 63 shares during the last quarter. Lloyd Advisory Services LLC. increased its holdings in shares of Philip Morris International by 3.3% during the 1st quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after acquiring an additional 64 shares during the last quarter. Finally, Western Wealth Management LLC increased its holdings in shares of Philip Morris International by 1.5% during the 1st quarter. Western Wealth Management LLC now owns 4,446 shares of the company's stock worth $706,000 after acquiring an additional 64 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Up 1.8%

Shares of PM traded up $3.09 during trading hours on Friday, hitting $179.00. 2,734,143 shares of the company were exchanged, compared to its average volume of 5,642,713. The company has a market cap of $278.62 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 2.59 and a beta of 0.51. Philip Morris International Inc. has a fifty-two week low of $101.62 and a fifty-two week high of $186.69. The firm's fifty day moving average is $177.14 and its 200 day moving average is $154.59.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results 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. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 EPS. Analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently announced 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 3.02%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is currently 111.34%.

Analyst Upgrades and Downgrades

PM has been the topic of a number of research reports. Stifel Nicolaus upped their price objective on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Needham & Company LLC initiated coverage on Philip Morris International in a report on Thursday, May 22nd. They issued a "buy" rating on the stock. Citigroup upped 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. Barclays reaffirmed an "overweight" rating and issued a $220.00 price objective (up from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Finally, Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and an average price target 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.