Retirement Systems of Alabama Cuts Stock Position in Philip Morris International Inc. (NYSE:PM)

Retirement Systems of Alabama decreased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 13.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 761,789 shares of the company's stock after selling 117,043 shares during the period. Retirement Systems of Alabama's holdings in Philip Morris International were worth $120,919,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PM. Lloyd Advisory Services LLC. raised its holdings in shares of Philip Morris International by 3.3% in the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company's stock worth $323,000 after buying an additional 64 shares during the last quarter. Omnia Family Wealth LLC lifted its holdings in shares of Philip Morris International by 1.7% in the 4th quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company's stock valued at $469,000 after buying an additional 65 shares during the period. Wagner Wealth Management LLC increased its holdings in shares of Philip Morris International by 1.0% during the 1st quarter. Wagner Wealth Management LLC now owns 6,459 shares of the company's stock valued at $1,025,000 after purchasing an additional 67 shares in the last quarter. Sonora Investment Management Group LLC increased its holdings in Philip Morris International by 0.6% in the first quarter. Sonora Investment Management Group LLC now owns 11,240 shares of the company's stock valued at $1,784,000 after buying an additional 68 shares in the last quarter. Finally, Essex Savings Bank increased its holdings in Philip Morris International by 2.0% in the first quarter. Essex Savings Bank now owns 3,443 shares of the company's stock valued at $547,000 after buying an additional 69 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Stifel Nicolaus upped their target price on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. UBS Group upgraded shares of Philip Morris International from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $130.00 to $170.00 in a research report on Friday, April 25th. Wall Street Zen upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday. 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 note on Wednesday, April 16th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Price Performance

Philip Morris International stock traded down $0.04 during trading on Friday, reaching $182.57. 10,713,275 shares of the company were exchanged, compared to its average volume of 5,649,314. The stock's 50 day simple moving average is $173.82 and its two-hundred day simple moving average is $150.99. The company has a market capitalization of $284.18 billion, a P/E ratio of 37.64, a PEG ratio of 2.65 and a beta of 0.52. Philip Morris International Inc. has a 52-week low of $98.93 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly 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 for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the previous year, the firm earned $1.50 EPS. The company's quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

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 given a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 2.96%. Philip Morris International's dividend payout ratio is currently 111.34%.

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.