State Board of Administration of Florida Retirement System Increases Stock Holdings in Philip Morris International Inc. $PM

State Board of Administration of Florida Retirement System increased its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,501,347 shares of the company’s stock after purchasing an additional 19,790 shares during the quarter. Philip Morris International accounts for 0.5% of State Board of Administration of Florida Retirement System’s holdings, making the stock its 27th biggest holding. State Board of Administration of Florida Retirement System owned approximately 0.10% of Philip Morris International worth $273,440,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Johnson Financial Group Inc. boosted its stake in Philip Morris International by 12.4% during the second quarter. Johnson Financial Group Inc. now owns 11,008 shares of the company’s stock worth $2,020,000 after buying an additional 1,213 shares during the period. Elevation Point Wealth Partners LLC lifted its holdings in shares of Philip Morris International by 106.5% in the 2nd quarter. Elevation Point Wealth Partners LLC now owns 27,947 shares of the company’s stock worth $5,090,000 after acquiring an additional 14,416 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of Philip Morris International by 20.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 37,622 shares of the company’s stock worth $6,852,000 after acquiring an additional 6,285 shares during the last quarter. Vinva Investment Management Ltd purchased a new position in shares of Philip Morris International during the 2nd quarter worth about $1,226,000. Finally, Vermillion & White Wealth Management Group LLC grew its holdings in Philip Morris International by 2.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 3,341 shares of the company’s stock valued at $608,000 after purchasing an additional 68 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, November 17th. KGI Securities assumed coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating on the stock. Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. JPMorgan Chase & Co. cut their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, UBS Group reduced their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a research note on Friday, September 5th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.00.

Philip Morris International Stock Performance

Philip Morris International stock opened at $156.66 on Thursday. The company has a market capitalization of $243.87 billion, a PE ratio of 28.38, a P/E/G ratio of 1.86 and a beta of 0.43. The company has a 50 day moving average price of $155.90 and a 200-day moving average price of $166.93. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

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

Philip Morris International Increases Dividend

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

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.