Philip Morris International Inc. $PM Shares Bought by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 4.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 236,646 shares of the company’s stock after purchasing an additional 10,278 shares during the period. Philip Morris International comprises approximately 0.4% of Police & Firemen s Retirement System of New Jersey’s portfolio, making the stock its 28th largest holding. Police & Firemen s Retirement System of New Jersey’s holdings in Philip Morris International were worth $43,100,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PM. WCM Investment Management LLC raised its stake in Philip Morris International by 24,968.0% in the second quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after buying an additional 11,230,626 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Philip Morris International during the 1st quarter worth about $1,712,994,000. Wellington Management Group LLP boosted its holdings in Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after purchasing an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Philip Morris International by 111.1% during the first quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock worth $473,660,000 after purchasing an additional 1,580,368 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PM shares. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. UBS Group decreased their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research note on Friday, September 5th. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a research report on Tuesday, October 21st. Needham & Company LLC reissued a “buy” rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

Philip Morris International Stock Down 0.8%

Shares of PM stock opened at $155.55 on Thursday. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69. The stock’s 50-day moving average price is $157.70 and its 200 day moving average price is $168.09. The stock has a market capitalization of $242.14 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.27 and a beta of 0.43.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The company had revenue of $8.12 billion for the quarter. Analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were paid a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.8%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio is presently 106.52%.

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.