State of Michigan Retirement System Buys 1,500 Shares of Philip Morris International Inc. $PM

State of Michigan Retirement System lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 423,258 shares of the company’s stock after acquiring an additional 1,500 shares during the quarter. State of Michigan Retirement System’s holdings in Philip Morris International were worth $77,088,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. PFS Partners LLC lifted its position in shares of Philip Morris International by 24.8% during the 2nd quarter. PFS Partners LLC now owns 292 shares of the company’s stock worth $53,000 after purchasing an additional 58 shares during the last quarter. Uncommon Cents Investing LLC lifted its position in shares of Philip Morris International by 1.1% during the 2nd quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company’s stock worth $1,032,000 after purchasing an additional 61 shares during the last quarter. NFP Retirement Inc. lifted its position in shares of Philip Morris International by 2.5% during the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company’s stock worth $411,000 after purchasing an additional 62 shares during the last quarter. Cranbrook Wealth Management LLC lifted its position in shares of Philip Morris International by 6.5% during the 2nd quarter. Cranbrook Wealth Management LLC now owns 1,014 shares of the company’s stock worth $185,000 after purchasing an additional 62 shares during the last quarter. Finally, Renasant Bank lifted its position in shares of Philip Morris International by 3.3% during the 1st quarter. Renasant Bank now owns 1,994 shares of the company’s stock worth $317,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PM. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a research report on Saturday. Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price target for the company. UBS Group cut their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Twelve equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Trading Down 1.0%

Shares of PM opened at $144.33 on Friday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The stock has a 50 day simple moving average of $160.05 and a 200-day simple moving average of $168.86. The stock has a market cap of $224.67 billion, a PE ratio of 26.15, a PEG ratio of 2.09 and a beta of 0.46.

Philip Morris International (NYSE:PM) last issued its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. On average, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were given a dividend of $1.47 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a yield of 4.1%. Philip Morris International’s dividend payout ratio is currently 106.52%.

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.