Strs Ohio Reduces Stake in Philip Morris International Inc. (NYSE:PM)
Strs Ohio lowered its stake in Philip Morris International Inc. (NYSE:PM) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 888,174 shares of the company’s stock after selling 54,236 shares during the quarter. Strs Ohio’s holdings in Philip Morris International were worth $75,574,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Philip Morris International by 5.1% during the second quarter. BlackRock Inc. now owns 100,831,956 shares of the company’s stock worth $7,918,335,000 after purchasing an additional 4,879,296 shares in the last quarter. State Street Corp raised its stake in Philip Morris International by 2.5% in the third quarter. State Street Corp now owns 61,352,264 shares of the company’s stock valued at $4,729,968,000 after purchasing an additional 1,511,680 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Philip Morris International by 0.9% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,023,728 shares of the company’s stock valued at $457,382,000 after purchasing an additional 52,057 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Philip Morris International by 14.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 4,362,567 shares of the company’s stock valued at $331,250,000 after purchasing an additional 539,938 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Philip Morris International by 2.6% in the 3rd quarter. Rhumbline Advisers now owns 2,469,336 shares of the company’s stock worth $187,497,000 after buying an additional 63,238 shares during the last quarter. 73.05% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on PM shares. Wells Fargo & Co lowered their price objective on shares of Philip Morris International from $102.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Stifel Nicolaus restated a “buy” rating on shares of Philip Morris International in a research note on Tuesday, October 15th. Citigroup downgraded Philip Morris International from a “buy” rating to a “neutral” rating and set a $90.00 target price on the stock. in a research report on Monday, December 2nd. Piper Jaffray Companies reissued an “overweight” rating on shares of Philip Morris International in a research note on Wednesday, January 8th. Finally, Morgan Stanley raised their price target on Philip Morris International from $92.00 to $99.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $95.17.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 19th were paid a dividend of $1.17 per share. The ex-dividend date was Wednesday, December 18th. This represents a $4.68 annualized dividend and a yield of 5.43%. Philip Morris International’s payout ratio is currently 91.76%.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
Further Reading: Hedge Funds Explained
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