Teacher Retirement System of Texas Decreases Stock Position in Philip Morris International Inc. $PM

Teacher Retirement System of Texas lessened its position in Philip Morris International Inc. (NYSE:PM) by 2.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 619,304 shares of the company’s stock after selling 13,217 shares during the quarter. Philip Morris International comprises 0.5% of Teacher Retirement System of Texas’ holdings, making the stock its 29th largest position. Teacher Retirement System of Texas’ holdings in Philip Morris International were worth $112,794,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PM. WCM Investment Management LLC lifted its position in shares of Philip Morris International by 24,968.0% in the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after acquiring an additional 11,230,626 shares in the last quarter. Nuveen LLC purchased a new position in shares of Philip Morris International in the first quarter valued at approximately $1,712,994,000. Wellington Management Group LLP lifted its position in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after acquiring an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after acquiring an additional 3,575,158 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company’s stock worth $1,431,527,000 after buying an additional 1,635,636 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Down 0.0%

PM stock opened at $157.69 on Monday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The business has a fifty day moving average of $162.32 and a two-hundred day moving average of $169.10. The stock has a market cap of $245.45 billion, a price-to-earnings ratio of 28.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.46.

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

Philip Morris International Increases Dividend

The company 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 boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.7%. Philip Morris International’s payout ratio is presently 106.52%.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a “buy” rating and a $220.00 price objective on the stock. UBS Group reduced their price objective on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research report on Friday, September 5th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Stifel Nicolaus set a $180.00 price objective on Philip Morris International in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research report on Saturday. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and an average target price 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.