Philip Morris International Inc. $PM Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System grew its stake in Philip Morris International Inc. (NYSE:PM) by 13.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,782 shares of the company’s stock after acquiring an additional 11,673 shares during the period. Maryland State Retirement & Pension System’s holdings in Philip Morris International were worth $18,277,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Philip Morris International by 0.4% during the second quarter. BlackRock Inc. now owns 108,039,522 shares of the company’s stock valued at $19,545,430,000 after acquiring an additional 444,449 shares during the period. State Street Corp lifted its stake in shares of Philip Morris International by 1.0% in the 2nd quarter. State Street Corp now owns 55,569,994 shares of the company’s stock valued at $10,134,454,000 after purchasing an additional 536,968 shares during the period. GQG Partners LLC acquired a new stake in shares of Philip Morris International during the second quarter worth $8,220,008,000. Wellington Management Group LLP grew its stake in shares of Philip Morris International by 3.9% during the second quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company’s stock worth $3,167,041,000 after purchasing an additional 650,587 shares during the period. Finally, Bank of America Corp DE increased its holdings in Philip Morris International by 12.0% in the first quarter. Bank of America Corp DE now owns 17,230,669 shares of the company’s stock valued at $2,848,919,000 after purchasing an additional 1,847,421 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Analyst Upgrades and Downgrades

PM has been the topic of several recent analyst reports. JPMorgan Chase & Co. started coverage on shares of Philip Morris International in a research note on Tuesday. They set a “neutral” rating and a $200.00 price objective on the stock. Weiss Ratings upgraded shares of Philip Morris International from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, November 4th. Needham & Company LLC lifted their target price on Philip Morris International from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Barclays boosted their target price on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Finally, Morgan Stanley increased their price target on Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $213.90.

Philip Morris International Stock Up 1.0%

Philip Morris International stock opened at $196.29 on Thursday. The company has a 50 day moving average of $195.91 and a 200-day moving average of $183.17. Philip Morris International Inc. has a twelve month low of $146.35 and a twelve month high of $214.35. The stock has a market capitalization of $305.95 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.61 and a beta of 0.34.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, beating the consensus estimate of $2.30 by $0.06. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.24 EPS. Equities analysts anticipate that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were paid a $1.60 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s dividend payout ratio (DPR) is 93.43%.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.