Philip Morris International Inc. (NYSE:PM) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its holdings in Philip Morris International Inc. (NYSE:PM) by 11.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 149,745 shares of the company’s stock after acquiring an additional 15,700 shares during the period. Illinois Municipal Retirement Fund’s holdings in Philip Morris International were worth $23,769,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. NewSquare Capital LLC raised its position in Philip Morris International by 53.7% in the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares during the period. Pacifica Partners Inc. increased its position in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock worth $35,000 after acquiring an additional 115 shares during the period. Inlight Wealth Management LLC purchased a new stake in shares of Philip Morris International during the first quarter worth $38,000. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter worth $36,000. Finally, Knuff & Co LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth $36,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on PM. Stifel Nicolaus raised their price target 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. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Barclays reaffirmed an “overweight” rating and set a $220.00 price objective (up previously from $205.00) on shares of Philip Morris International in a report on Friday, June 13th. Citigroup raised their price objective on Philip Morris International from $163.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, April 16th. Finally, Morgan Stanley reissued an “overweight” rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.80.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $180.61 on Friday. Philip Morris International Inc. has a 1 year low of $100.80 and a 1 year high of $186.69. The company has a market capitalization of $281.13 billion, a P/E ratio of 37.24, a P/E/G ratio of 2.60 and a beta of 0.52. The business has a 50 day moving average price of $175.60 and a 200 day moving average price of $152.43.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 earnings per share (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 firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the firm posted $1.50 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 2.99%. Philip Morris International’s payout ratio is currently 111.34%.

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.