Teacher Retirement System of Texas Lowers Holdings in Philip Morris International Inc. (NYSE:PM)

by · The Cerbat Gem

Teacher Retirement System of Texas lessened its stake in Philip Morris International Inc. (NYSE:PM – Free Report) by 8.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 426,482 shares of the company’s stock after selling 40,639 shares during the quarter. Teacher Retirement System of Texas’ holdings in Philip Morris International were worth $39,484,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PM. PCA Investment Advisory Services Inc. purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at about $27,000. DHJJ Financial Advisors Ltd. purchased a new stake in shares of Philip Morris International during the 3rd quarter valued at about $36,000. Spotlight Asset Group Inc. purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at about $37,000. Legacy Financial Group LLC purchased a new stake in shares of Philip Morris International during the 3rd quarter valued at about $37,000. Finally, VitalStone Financial LLC grew its stake in shares of Philip Morris International by 950.0% during the 2nd quarter. VitalStone Financial LLC now owns 420 shares of the company’s stock valued at $41,000 after acquiring an additional 380 shares during the period. Hedge funds and other institutional investors own 79.70% of the company’s stock.

Philip Morris International Trading Down 0.7 %

Shares of PM traded down $0.68 during midday trading on Tuesday, reaching $94.59. 1,304,915 shares of the stock were exchanged, compared to its average volume of 4,009,151. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $105.62. The company’s 50 day moving average is $93.31 and its two-hundred day moving average is $94.33. The company has a market capitalization of $146.84 billion, a P/E ratio of 18.50, a PEG ratio of 2.62 and a beta of 0.67.

Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly earnings data on Thursday, October 19th. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.05. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.21 billion. Philip Morris International had a negative return on equity of 129.48% and a net margin of 9.62%. The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. On average, sell-side analysts expect that Philip Morris International Inc. will post 6.08 EPS for the current year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Thursday, December 21st were paid a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 5.50%. The ex-dividend date was Wednesday, December 20th. Philip Morris International’s payout ratio is 100.97%.

Insider Transactions at Philip Morris International

In related news, insider Wilde Frederic De sold 10,000 shares of Philip Morris International stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $94.25, for a total transaction of $942,500.00. Following the completion of the transaction, the insider now directly owns 198,447 shares in the company, valued at $18,703,629.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PM shares. UBS Group cut their price objective on Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, October 5th. Barclays lowered their target price on Philip Morris International from $115.00 to $110.00 and set an “overweight” rating for the company in a research report on Thursday, September 21st. Morgan Stanley lowered their target price on Philip Morris International from $118.00 to $113.00 and set an “overweight” rating for the company in a research report on Monday, October 2nd. Jefferies Financial Group lowered their target price on Philip Morris International from $111.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 13th. Finally, Redburn Atlantic started coverage on Philip Morris International in a research report on Thursday, November 16th. They set a “neutral” rating and a $95.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $109.27.

Check Out Our Latest Research Report on PM

About Philip Morris International

(Free Report)

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.

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