New York State Common Retirement Fund Trims Stake in Philip Morris International Inc. $PM

New York State Common Retirement Fund lowered its position in Philip Morris International Inc. (NYSE:PM) by 6.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,757,400 shares of the company’s stock after selling 119,400 shares during the period. New York State Common Retirement Fund’s holdings in Philip Morris International were worth $285,050,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Corient Private Wealth LLC raised its position in Philip Morris International by 1.2% in the 2nd quarter. Corient Private Wealth LLC now owns 490,590 shares of the company’s stock worth $89,354,000 after buying an additional 5,681 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Philip Morris International by 10.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 549,481 shares of the company’s stock worth $84,922,000 after acquiring an additional 51,399 shares during the period. Dynasty Wealth Management LLC raised its holdings in shares of Philip Morris International by 53.0% during the third quarter. Dynasty Wealth Management LLC now owns 27,772 shares of the company’s stock valued at $4,505,000 after purchasing an additional 9,622 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Philip Morris International by 295.8% during the second quarter. Westwood Holdings Group Inc. now owns 67,717 shares of the company’s stock valued at $12,333,000 after purchasing an additional 50,610 shares during the period. Finally, Prudential Financial Inc. boosted its holdings in Philip Morris International by 88.9% in the second quarter. Prudential Financial Inc. now owns 2,138,118 shares of the company’s stock worth $389,415,000 after purchasing an additional 1,006,014 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PM. JPMorgan Chase & Co. lowered their price target on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Barclays dropped their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a report on Tuesday, October 21st. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.56.

Philip Morris International Stock Performance

PM opened at $178.56 on Thursday. The stock has a market cap of $277.95 billion, a price-to-earnings ratio of 32.35, a P/E/G ratio of 1.92 and a beta of 0.40. The stock’s 50 day moving average price is $160.61 and its 200-day moving average price is $161.45. Philip Morris International Inc. has a one year low of $128.25 and a one year high of $186.69.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Philip Morris International Profile

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.