Illinois Municipal Retirement Fund Boosts Stake in Philip Morris International Inc. $PM

Illinois Municipal Retirement Fund boosted its position in shares of Philip Morris International Inc. (NYSE:PM) by 88.6% during the second quarter, Holdings Channel.com reports. The firm owned 282,435 shares of the company’s stock after buying an additional 132,690 shares during the quarter. Philip Morris International makes up approximately 0.7% of Illinois Municipal Retirement Fund’s portfolio, making the stock its 14th biggest position. Illinois Municipal Retirement Fund’s holdings in Philip Morris International were worth $51,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Philip Morris International during the second quarter worth $25,000. Abound Wealth Management lifted its stake in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after purchasing an additional 136 shares during the period. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Philip Morris International in the 1st quarter valued at about $30,000. Briaud Financial Planning Inc lifted its holdings in Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of Philip Morris International by 405.0% in the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after acquiring an additional 162 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

NYSE:PM opened at $153.26 on Monday. The stock has a fifty day moving average price of $158.30 and a 200-day moving average price of $168.38. The company has a market cap of $238.58 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.22 and a beta of 0.43. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%. Research analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Needham & Company LLC reissued a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. Barclays dropped their price target on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a report on Tuesday, October 21st. Finally, KGI Securities initiated coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.00.

About Philip Morris International

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.