Teachers Retirement System of The State of Kentucky Sells 7,012 Shares of Philip Morris International Inc. (NYSE:PM)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 2.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 308,483 shares of the company's stock after selling 7,012 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Philip Morris International were worth $37,449,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PM. Iron Horse Wealth Management LLC boosted its stake in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company's stock valued at $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International in the second quarter valued at about $25,000. Sachetta LLC increased its position in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company's stock worth $27,000 after acquiring an additional 105 shares during the period. Valley Wealth Managers Inc. boosted its holdings in Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company's stock valued at $27,000 after purchasing an additional 183 shares during the period. Finally, Dunhill Financial LLC grew its position in shares of Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after purchasing an additional 161 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Down 1.7 %

PM traded down $2.16 during trading on Wednesday, reaching $126.82. 10,135,878 shares of the company's stock were exchanged, compared to its average volume of 5,325,873. Philip Morris International Inc. has a one year low of $87.82 and a one year high of $134.15. The firm has a fifty day moving average price of $127.03 and a two-hundred day moving average price of $117.47. The stock has a market capitalization of $197.18 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.29 and a beta of 0.53.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. Philip Morris International's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the company earned $1.67 EPS. Sell-side analysts expect 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. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.26%. This is an increase from Philip Morris International's previous quarterly dividend of $1.30. Philip Morris International's payout ratio is 85.71%.

Analyst Upgrades and Downgrades

PM has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, October 1st. Barclays raised their price target on Philip Morris International from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. UBS Group upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a "sell" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Philip Morris International from $126.00 to $140.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Philip Morris International presently has an average rating of "Moderate Buy" and an average price target of $131.50.

Insider Activity

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction 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 completion of the sale, the chairman now directly owns 959,761 shares of the company's stock, valued at approximately $124,624,965.85. The trade was a 9.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Werner Barth sold 7,500 shares of the business's stock in a transaction dated Wednesday, October 23rd. The shares were 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. The trade was a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company's stock.

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.