Philip Morris International Inc. $PM Stock: Retirement Systems of Alabama Trims Holdings

Retirement Systems of Alabama decreased its position in Philip Morris International Inc. (NYSE:PM) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 757,760 shares of the company’s stock after selling 30,469 shares during the quarter. Retirement Systems of Alabama’s holdings in Philip Morris International were worth $144,596,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Financial Network Wealth Advisors LLC lifted its holdings in Philip Morris International by 9.9% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $118,000 after purchasing an additional 56 shares during the last quarter. Hughes Financial Services LLC grew its stake in Philip Morris International by 8.4% during the third quarter. Hughes Financial Services LLC now owns 719 shares of the company’s stock worth $150,000 after buying an additional 56 shares during the last quarter. Platt Wealth Management LLC grew its stake in Philip Morris International by 2.1% during the second quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock worth $512,000 after buying an additional 58 shares during the last quarter. Security Financial Services INC. increased its holdings in shares of Philip Morris International by 2.2% during the third quarter. Security Financial Services INC. now owns 2,978 shares of the company’s stock worth $568,000 after buying an additional 64 shares in the last quarter. Finally, Shepherd Financial Partners LLC increased its holdings in shares of Philip Morris International by 4.9% during the third quarter. Shepherd Financial Partners LLC now owns 1,365 shares of the company’s stock worth $260,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Down 2.4%

Shares of NYSE PM opened at $193.16 on Tuesday. Philip Morris International Inc. has a 12-month low of $146.35 and a 12-month high of $214.35. The firm’s 50-day simple moving average is $195.59 and its 200 day simple moving average is $182.93. The company has a market cap of $301.07 billion, a price-to-earnings ratio of 28.20, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.06. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter last year, the company posted $2.24 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were paid a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.47. The ex-dividend date of this dividend was Friday, October 2nd. Philip Morris International’s payout ratio is currently 93.43%.

Wall Street Analyst Weigh In

PM has been the subject of a number of research analyst reports. Needham & Company LLC lifted their target price on shares of Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. Barclays increased their price target on Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Stifel Nicolaus raised their price target on Philip Morris International from $205.00 to $232.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. UBS Group lifted their price objective on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Finally, Argus lifted their price objective on Philip Morris International from $210.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $212.40.

About Philip Morris International

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.

The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.