Philip Morris International Inc. (NYSE:PM) Position Trimmed by TIAA Trust National Association

TIAA Trust National Association lowered its stake in Philip Morris International Inc. (NYSE:PM) by 64.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 53,881 shares of the company’s stock after selling 99,605 shares during the period. TIAA Trust National Association’s holdings in Philip Morris International were worth $4,937,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PM. Vanguard Group Inc. boosted its holdings in shares of Philip Morris International by 0.4% during the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after purchasing an additional 481,636 shares during the period. Capital Research Global Investors lifted its stake in Philip Morris International by 9.1% in the fourth quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after acquiring an additional 4,869,272 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Philip Morris International by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,396,354 shares of the company’s stock worth $1,226,746,000 after acquiring an additional 125,919 shares in the last quarter. Northern Trust Corp increased its stake in shares of Philip Morris International by 0.6% during the 4th quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock worth $1,234,963,000 after purchasing an additional 77,820 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Philip Morris International by 25.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock valued at $996,104,000 after purchasing an additional 2,123,311 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Stifel Nicolaus upped their price target on Philip Morris International from $108.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $104.22.

Philip Morris International Stock Down 0.1 %

NYSE PM traded down $0.13 on Monday, reaching $106.99. The company had a trading volume of 2,903,838 shares, compared to its average volume of 5,319,447. The stock has a market cap of $166.32 billion, a price-to-earnings ratio of 20.92, a PEG ratio of 2.20 and a beta of 0.58. The stock’s 50 day moving average is $102.17 and its 200-day moving average is $96.00. Philip Morris International Inc. has a 52 week low of $87.23 and a 52 week high of $109.18.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The company had revenue of $8.79 billion for the quarter, compared to the consensus estimate of $8.44 billion. During the same period last year, the company earned $1.38 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, analysts forecast that Philip Morris International Inc. will post 6.34 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were given a $1.30 dividend. This represents a $5.20 annualized dividend and a dividend yield of 4.86%. The ex-dividend date was Friday, June 21st. Philip Morris International’s payout ratio is presently 101.56%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $96.42, for a total value of $1,928,400.00. Following the completion of the sale, the insider now owns 178,447 shares in the company, valued at approximately $17,205,859.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.