Philip Morris International Inc. $PM Stock Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its stake in Philip Morris International Inc. (NYSE:PM) by 5.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 104,128 shares of the company’s stock after selling 5,786 shares during the period. Illinois Municipal Retirement Fund’s holdings in Philip Morris International were worth $19,870,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at about $29,000. Wilkerson Advisory Group LLC lifted its holdings in shares of Philip Morris International by 109.2% in the first quarter. Wilkerson Advisory Group LLC now owns 205 shares of the company’s stock valued at $34,000 after purchasing an additional 107 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in shares of Philip Morris International in the second quarter valued at about $34,000. Kilter Group LLC acquired a new position in shares of Philip Morris International during the second quarter worth about $35,000. Finally, Evergreen Advisors LLC acquired a new position in shares of Philip Morris International during the first quarter worth about $46,000. Institutional investors own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the subject of a number of research reports. UBS Group increased their price objective on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. JPMorgan Chase & Co. started coverage on Philip Morris International in a research note on Tuesday. They issued a “neutral” rating and a $200.00 target price on the stock. Morgan Stanley boosted their target price on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. BTIG Research set a $221.00 price target on Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 24th. Finally, Needham & Company LLC raised their price target on shares of Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $213.90.

Philip Morris International Trading Up 0.6%

Philip Morris International stock opened at $194.31 on Wednesday. The company has a market cap of $302.86 billion, a P/E ratio of 28.37, a price-to-earnings-growth ratio of 2.59 and a beta of 0.34. Philip Morris International Inc. has a 1-year low of $146.35 and a 1-year high of $214.35. The company has a fifty day simple moving average of $195.73 and a 200 day simple moving average of $183.05.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $11.32 billion. During the same period in the previous year, the firm posted $2.24 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that Philip Morris International Inc. will post 8.32 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio is 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.