New York State Teachers Retirement System Trims Stock Holdings in Philip Morris International Inc. $PM

New York State Teachers Retirement System lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.4% in the third quarter, HoldingsChannel reports. The firm owned 1,310,281 shares of the company’s stock after selling 18,134 shares during the quarter. New York State Teachers Retirement System’s holdings in Philip Morris International were worth $212,528,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PM. Legacy Investment Solutions LLC purchased a new stake in shares of Philip Morris International during the second quarter worth about $25,000. Traub Capital Management LLC acquired a new stake in Philip Morris International during the second quarter worth approximately $25,000. Abound Wealth Management grew its stake in Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares during the period. Briaud Financial Planning Inc grew its stake in Philip Morris International by 266.7% in the 2nd quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the period. Finally, Estabrook Capital Management acquired a new position in Philip Morris International during the second quarter worth approximately $30,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Price Performance

PM opened at $162.61 on Friday. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The stock has a market capitalization of $253.13 billion, a PE ratio of 29.46, a P/E/G ratio of 1.75 and a beta of 0.40. The firm’s fifty day moving average price is $155.63 and its 200 day moving average price is $162.13.

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

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend is Friday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PM shares. The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research note on Wednesday, October 22nd. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Barclays cut their price objective on Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Stifel Nicolaus set a $180.00 price target on shares of Philip Morris International in a report on Tuesday, October 21st. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and an average target price of $189.00.

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.