Kentucky Retirement Systems Reduces Position in Philip Morris International Inc. (NYSE:PM)

Kentucky Retirement Systems lessened its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 7.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 108,316 shares of the company's stock after selling 8,830 shares during the period. Kentucky Retirement Systems' holdings in Philip Morris International were worth $13,150,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PM. Capital World Investors boosted its holdings in Philip Morris International by 1.5% in the first quarter. Capital World Investors now owns 111,247,656 shares of the company's stock valued at $10,192,510,000 after acquiring an additional 1,684,992 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company's stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company's stock valued at $1,341,050,000 after buying an additional 1,856,551 shares during the period. First Eagle Investment Management LLC lifted its holdings in Philip Morris International by 7.4% in the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company's stock worth $1,079,767,000 after buying an additional 736,961 shares during the period. Finally, Legal & General Group Plc boosted its position in Philip Morris International by 4.7% during the 2nd quarter. Legal & General Group Plc now owns 10,430,837 shares of the company's stock valued at $1,056,957,000 after acquiring an additional 469,806 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 0.3 %

Philip Morris International stock traded up $0.39 during trading on Friday, reaching $128.59. The company had a trading volume of 9,066,012 shares, compared to its average volume of 5,415,458. The firm has a market capitalization of $199.94 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.19 and a beta of 0.54. The firm's 50-day simple moving average is $124.30 and its 200 day simple moving average is $113.44. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $134.15.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The business had revenue of $9.91 billion for the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the previous year, the firm earned $1.67 earnings per share. The company's revenue for the quarter was up 8.4% on a year-over-year basis. On average, analysts predict that Philip Morris International Inc. will post 6.51 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International's previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.20%. Philip Morris International's dividend payout ratio is presently 85.71%.

Insiders Place Their Bets

In other news, insider Werner Barth sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the sale, the insider now directly owns 95,418 shares of the company's stock, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Barclays upped their target price on shares of Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Stifel Nicolaus reissued a "buy" rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. StockNews.com upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Monday, July 22nd. Finally, Citigroup raised their target price on shares of Philip Morris International from $118.50 to $132.00 and gave the company a "buy" rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.85.

Philip Morris International Profile

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.