State of New Jersey Common Pension Fund D Boosts Stake in Philip Morris International Inc. (NYSE:PM)

State of New Jersey Common Pension Fund D lifted its position in Philip Morris International Inc. (NYSE:PM) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 573,049 shares of the company’s stock after acquiring an additional 1,838 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Philip Morris International were worth $69,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Philip Morris International by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after buying an additional 481,636 shares during the period. Capital World Investors raised its position in shares of Philip Morris International by 1.5% in the first quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after acquiring an additional 1,684,992 shares during the period. Capital Research Global Investors grew its holdings in Philip Morris International by 3.1% in the first 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 raised its stake 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 buying an additional 1,856,551 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of Philip Morris International by 7.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock valued at $1,079,767,000 after buying an additional 736,961 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the subject of a number of research reports. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Citigroup boosted their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. UBS Group lifted their target price on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research note on Wednesday, October 23rd. Finally, Barclays increased their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.85.

Philip Morris International Stock Up 2.0 %

NYSE:PM traded up $2.46 on Friday, hitting $126.24. The stock had a trading volume of 6,365,289 shares, compared to its average volume of 5,293,789. The stock has a market cap of $196.28 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 2.19 and a beta of 0.54. The company has a fifty day moving average price of $124.21 and a two-hundred day moving average price of $112.52. Philip Morris International Inc. has a 1-year low of $87.82 and a 1-year high of $134.15.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping 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 10.35%. The company had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. As a group, analysts anticipate that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.28%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is presently 85.71%.

Insiders Place Their Bets

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares in the company, valued at approximately $124,624,965.85. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value 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 document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the sale, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

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.