New York State Teachers Retirement System Has $173.15 Million Stake in Philip Morris International Inc. (NYSE:PM)

New York State Teachers Retirement System cut its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,426,239 shares of the company’s stock after selling 19,250 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Philip Morris International worth $173,145,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Philip Morris International by 0.4% during the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares in the last quarter. Capital World Investors raised its stake in Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after purchasing an additional 1,684,992 shares in the last quarter. Capital Research Global Investors boosted its holdings in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the period. Bank of New York Mellon Corp grew its position in shares of Philip Morris International by 16.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Philip Morris International by 7.4% during the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after purchasing an additional 736,961 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Insiders Place Their Bets

In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now owns 95,418 shares of the company’s stock, valued at approximately $12,402,431.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 118,418 shares of company stock valued at $15,247,052 in the last ninety days. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PM. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. The Goldman Sachs Group raised their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays raised their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Finally, UBS Group increased their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $126.85.

Philip Morris International Stock Up 0.1 %

Shares of NYSE:PM traded up $0.08 during trading on Wednesday, hitting $131.65. 247,761 shares of the company were exchanged, compared to its average volume of 5,344,850. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $133.27. The company has a market capitalization of $204.69 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 2.57 and a beta of 0.55. The business’s 50 day moving average is $122.99 and its 200-day moving average is $110.58.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period last year, the company earned $1.67 earnings per share. The business’s quarterly revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.10%. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

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.