Retirement Systems of Alabama cut its position in Philip Morris International Inc (NYSE:PM) by 3.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,042,750 shares of the company’s stock after selling 40,685 shares during the period. Philip Morris International accounts for approximately 0.7% of Retirement Systems of Alabama’s investment portfolio, making the stock its 26th biggest holding. Retirement Systems of Alabama owned about 0.07% of Philip Morris International worth $122,471,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PM. Suffolk Capital Management LLC bought a new position in Philip Morris International in the 2nd quarter valued at about $12,928,000. HighTower Advisors LLC lifted its position in Philip Morris International by 1.4% in the 1st quarter. HighTower Advisors LLC now owns 514,313 shares of the company’s stock valued at $58,076,000 after acquiring an additional 7,050 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Philip Morris International by 42.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,091,110 shares of the company’s stock valued at $236,086,000 after acquiring an additional 618,100 shares in the last quarter. Swiss National Bank lifted its position in Philip Morris International by 26.2% in the 1st quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock valued at $646,548,000 after acquiring an additional 1,189,800 shares in the last quarter. Finally, USA Mutuals Advisors Inc. lifted its position in Philip Morris International by 2.5% in the 1st quarter. USA Mutuals Advisors Inc. now owns 102,500 shares of the company’s stock valued at $11,572,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 72.00% of the company’s stock.

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Philip Morris International Inc (NYSE PM) opened at 113.99 on Friday. The firm’s 50 day moving average is $114.61 and its 200 day moving average is $115.77. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The company has a market cap of $177.05 billion, a PE ratio of 25.26 and a beta of 0.93.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). The company had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.15 EPS. Analysts forecast that Philip Morris International Inc will post $4.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Wednesday, September 27th were given a dividend of $1.07 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a yield of 3.75%. Philip Morris International’s dividend payout ratio is 94.90%.

PM has been the topic of several recent research reports. TheStreet raised shares of Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Jefferies Group LLC dropped their price target on shares of Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Thursday. Zacks Investment Research cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Berenberg Bank set a $96.00 price target on shares of Philip Morris International and gave the company a “hold” rating in a research report on Saturday, June 24th. Finally, Citigroup Inc. reaffirmed a “neutral” rating and issued a $125.00 price target (down previously from $128.00) on shares of Philip Morris International in a research report on Monday, July 24th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $125.92.

In related news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total transaction of $1,624,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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