Kentucky Retirement Systems lifted its stake in Philip Morris International Inc. (NYSE:PM – Get Rating) by 6.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,787 shares of the company's stock after acquiring an additional 5,665 shares during the period. Kentucky Retirement Systems' holdings in Philip Morris International were worth $9,280,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. grew its holdings in Philip Morris International by 2.4% in the 4th quarter. BlackRock Inc. now owns 94,109,468 shares of the company's stock valued at $8,940,401,000 after buying an additional 2,179,980 shares during the last quarter. State Street Corp grew its holdings in Philip Morris International by 3.7% in the 4th quarter. State Street Corp now owns 56,505,116 shares of the company's stock valued at $5,437,859,000 after buying an additional 1,992,512 shares during the last quarter. Geode Capital Management LLC grew its holdings in Philip Morris International by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 27,333,383 shares of the company's stock valued at $2,590,702,000 after buying an additional 214,617 shares during the last quarter. Fundsmith LLP grew its holdings in Philip Morris International by 5.5% in the 4th quarter. Fundsmith LLP now owns 20,423,427 shares of the company's stock valued at $1,940,226,000 after buying an additional 1,069,807 shares during the last quarter. Finally, GQG Partners LLC grew its holdings in shares of Philip Morris International by 1.2% during the 4th quarter. GQG Partners LLC now owns 14,402,976 shares of the company's stock worth $1,368,162,000 after purchasing an additional 166,463 shares in the last quarter. 74.78% of the stock is owned by institutional investors.
Get Philip Morris International alerts:Analysts Set New Price Targets
Several analysts have recently weighed in on PM shares. StockNews.com raised Philip Morris International from a "hold" rating to a "buy" rating in a report on Tuesday, July 26th. Jefferies Financial Group decreased their price target on Philip Morris International from $107.00 to $99.00 in a research note on Tuesday, July 19th. Bank of America boosted their price target on Philip Morris International from $107.00 to $117.00 in a research note on Sunday, April 24th. Finally, Morgan Stanley boosted their price target on Philip Morris International from $104.00 to $112.00 and gave the company an "overweight" rating in a research note on Friday, April 22nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $110.33.
Philip Morris International Stock Performance
NYSE:PM opened at $97.60 on Friday. The stock's fifty day moving average price is $98.48 and its two-hundred day moving average price is $100.10. The company has a market cap of $151.30 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 3.79 and a beta of 0.62. Philip Morris International Inc. has a 52-week low of $85.64 and a 52-week high of $112.48.Philip Morris International (NYSE:PM – Get Rating) last issued its quarterly earnings results on Thursday, July 21st. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.22. The business had revenue of $7.83 billion for the quarter, compared to analyst estimates of $6.76 billion. Philip Morris International had a negative return on equity of 115.36% and a net margin of 11.05%. The firm's revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.57 earnings per share. On average, equities analysts predict that Philip Morris International Inc. will post 5.99 EPS for the current fiscal year.
Philip Morris International Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, June 30th. This represents a $5.00 annualized dividend and a yield of 5.12%. Philip Morris International's dividend payout ratio is currently 85.91%.
Philip Morris International Company Profile
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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 that are sold in markets outside the United States.
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