Strs Ohio Trims Stock Position in Philip Morris International Inc. $PM

Strs Ohio lessened its holdings in Philip Morris International Inc. (NYSE:PM) by 25.7% during the 2nd quarter, Holdings Channel reports. The firm owned 502,142 shares of the company’s stock after selling 173,563 shares during the quarter. Strs Ohio’s holdings in Philip Morris International were worth $91,455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Linscomb Wealth Inc. lifted its holdings in shares of Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after purchasing an additional 2,669 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of Philip Morris International by 7.3% in the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after buying an additional 242,799 shares during the last quarter. 49 Wealth Management LLC raised its position in shares of Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock valued at $847,000 after buying an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO raised its position in shares of Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after buying an additional 125,171 shares during the last quarter. Finally, First American Trust FSB raised its position in shares of Philip Morris International by 80.0% in the first quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after buying an additional 25,063 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

NYSE PM opened at $146.58 on Thursday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company has a market capitalization of $228.17 billion, a price-to-earnings ratio of 26.55, a price-to-earnings-growth ratio of 2.17 and a beta of 0.46. The company’s fifty day moving average price is $161.17 and its two-hundred day moving average price is $169.05.

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

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s payout ratio is 106.52%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PM. Wall Street Zen lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Morgan Stanley set a $175.00 price objective on shares of Philip Morris International and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group initiated coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a “buy” rating and a $220.00 target price for the company. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently 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.