Philip Morris International Inc. $PM Position Raised by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its position in shares of Philip Morris International Inc. (NYSE:PM) by 13.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,782 shares of the company’s stock after acquiring an additional 11,673 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Philip Morris International were worth $18,277,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Ritholtz Wealth Management increased its stake in Philip Morris International by 3.5% in the 3rd quarter. Ritholtz Wealth Management now owns 75,039 shares of the company’s stock valued at $14,319,000 after buying an additional 2,552 shares during the last quarter. Joel Isaacson & Co. LLC boosted its stake in shares of Philip Morris International by 2.3% during the 3rd quarter. Joel Isaacson & Co. LLC now owns 9,205 shares of the company’s stock worth $1,756,000 after buying an additional 210 shares during the last quarter. Jefferies Financial Group Inc. boosted its stake in shares of Philip Morris International by 234.3% during the 3rd quarter. Jefferies Financial Group Inc. now owns 29,403 shares of the company’s stock worth $5,611,000 after buying an additional 20,608 shares during the last quarter. Silver Grove Financial Group Inc. boosted its stake in shares of Philip Morris International by 3.0% during the 3rd quarter. Silver Grove Financial Group Inc. now owns 1,896 shares of the company’s stock worth $362,000 after buying an additional 55 shares during the last quarter. Finally, Bahl & Gaynor LLC bought a new position in shares of Philip Morris International in the 3rd quarter valued at about $113,137,000. 78.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on PM shares. Morgan Stanley lifted their target price on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Barclays increased their price target on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. UBS Group increased their price target on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Weiss Ratings upgraded Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, November 4th. Finally, Citigroup boosted their price target on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Trading Up 1.0%

NYSE PM opened at $196.29 on Thursday. The firm’s fifty day moving average price is $195.91 and its two-hundred day moving average price is $183.17. Philip Morris International Inc. has a 1 year low of $146.35 and a 1 year high of $214.35. The firm has a market capitalization of $305.95 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.61 and a beta of 0.34.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.06. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The firm had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $11.32 billion. During the same quarter last year, the company posted $2.24 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s payout ratio is currently 93.43%.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.