Philip Morris International Inc. $PM Shares Bought by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 236,646 shares of the company’s stock after purchasing an additional 10,278 shares during the period. Philip Morris International makes up about 0.4% of Police & Firemen s Retirement System of New Jersey’s portfolio, making the stock its 28th biggest position. Police & Firemen s Retirement System of New Jersey’s holdings in Philip Morris International were worth $43,100,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in shares of Philip Morris International by 1.8% during the second quarter. Geode Capital Management LLC now owns 37,181,107 shares of the company’s stock valued at $6,760,346,000 after buying an additional 672,983 shares during the last quarter. Everett Harris & Co. CA grew its stake in Philip Morris International by 17.8% during the 2nd quarter. Everett Harris & Co. CA now owns 14,944 shares of the company’s stock valued at $2,722,000 after purchasing an additional 2,253 shares during the last quarter. Bouchey Financial Group Ltd grew its stake in Philip Morris International by 2.6% during the 2nd quarter. Bouchey Financial Group Ltd now owns 7,588 shares of the company’s stock valued at $1,386,000 after purchasing an additional 192 shares during the last quarter. Beck Bode LLC acquired a new position in shares of Philip Morris International in the second quarter valued at about $1,835,000. Finally, KBC Group NV increased its holdings in shares of Philip Morris International by 7.7% in the second quarter. KBC Group NV now owns 132,800 shares of the company’s stock valued at $24,187,000 after purchasing an additional 9,524 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research note on Sunday. UBS Group dropped their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Finally, Barclays decreased their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, July 30th. Twelve research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Trading Down 0.8%

NYSE PM opened at $155.55 on Thursday. The stock has a fifty day simple moving average of $157.70 and a 200-day simple moving average of $168.09. The stock has a market cap of $242.14 billion, a PE ratio of 28.18, a P/E/G ratio of 2.27 and a beta of 0.43. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69.

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

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a $1.47 dividend. 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. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. Philip Morris International’s payout ratio is 106.52%.

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.