Philip Morris International Inc. (NYSE:PM) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 278,302 shares of the company's stock after selling 13,190 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Philip Morris International were worth $44,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. J.W. Cole Advisors Inc. grew its position in shares of Philip Morris International by 540.0% in the 1st quarter. J.W. Cole Advisors Inc. now owns 93,602 shares of the company's stock worth $14,857,000 after buying an additional 78,977 shares during the last quarter. WNY Asset Management LLC bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $200,000. IFP Advisors Inc boosted its position in shares of Philip Morris International by 19.3% during the first quarter. IFP Advisors Inc now owns 38,128 shares of the company's stock valued at $6,052,000 after purchasing an additional 6,173 shares in the last quarter. OneAscent Financial Services LLC boosted its position in shares of Philip Morris International by 99.0% during the first quarter. OneAscent Financial Services LLC now owns 6,258 shares of the company's stock valued at $998,000 after purchasing an additional 3,114 shares in the last quarter. Finally, Dahring Cusmano LLC bought a new stake in shares of Philip Morris International during the first quarter valued at approximately $203,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

PM traded down $14.31 during trading on Tuesday, hitting $166.17. 15,743,749 shares of the stock were exchanged, compared to its average volume of 5,706,766. The firm has a 50 day simple moving average of $178.83 and a 200 day simple moving average of $159.09. The firm has a market cap of $258.65 billion, a price-to-earnings ratio of 34.37, a P/E/G ratio of 2.56 and a beta of 0.51. Philip Morris International Inc. has a 1 year low of $106.76 and a 1 year high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The business had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the business posted $1.59 EPS. The business's revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.25%. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PM shares. Morgan Stanley reiterated an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. UBS Group lifted their price objective on Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. Finally, Stifel Nicolaus lifted their price objective on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $186.73.

Philip Morris International Company 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.