State Board of Administration of Florida Retirement System Has $264.07 Million Stake in Philip Morris International Inc (PM)

State Board of Administration of Florida Retirement System raised its stake in shares of Philip Morris International Inc (NYSE:PM) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,248,336 shares of the company’s stock after buying an additional 7,751 shares during the quarter. Philip Morris International comprises 0.7% of State Board of Administration of Florida Retirement System’s portfolio, making the stock its 21st biggest position. State Board of Administration of Florida Retirement System owned 0.14% of Philip Morris International worth $264,067,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of PM. Amerigo Asset Management acquired a new position in shares of Philip Morris International during the 2nd quarter worth about $209,061,000. Canada Pension Plan Investment Board grew its position in shares of Philip Morris International by 60.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,353,310 shares of the company’s stock worth $393,846,000 after buying an additional 1,262,200 shares during the period. C WorldWide Group Holding A S grew its position in shares of Philip Morris International by 70.9% during the 1st quarter. C WorldWide Group Holding A S now owns 3,027,193 shares of the company’s stock worth $341,770,000 after buying an additional 1,255,776 shares during the period. Swiss National Bank grew its position in shares of Philip Morris International by 26.2% during the 1st quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after buying an additional 1,189,800 shares during the period. Finally, State Street Corp grew its position in shares of Philip Morris International by 1.8% during the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after buying an additional 1,058,408 shares during the period. Institutional investors own 72.20% of the company’s stock.

Several equities analysts recently issued reports on PM shares. Zacks Investment Research lowered Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Piper Jaffray Companies set a $134.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Saturday, August 19th. Goldman Sachs Group, Inc. (The) upgraded Philip Morris International from a “buy” rating to a “conviction-buy” rating and set a $135.00 price objective for the company in a research report on Thursday, September 28th. SBG Securities upgraded Philip Morris International from a “sell” rating to a “hold” rating and boosted their price objective for the company from $118.00 to $119.00 in a research report on Friday, August 11th. Finally, BidaskClub upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $124.62.

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In other news, Chairman Louis C. Camilleri sold 108,979 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $108.38, for a total transaction of $11,811,144.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Drago Azinovic sold 14,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

Shares of Philip Morris International Inc (NYSE PM) opened at $102.66 on Friday. The company has a market cap of $159,451.83, a P/E ratio of 22.86, a P/E/G ratio of 2.07 and a beta of 0.91. The company has a quick ratio of 0.68, a current ratio of 1.13 and a debt-to-equity ratio of -2.91.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 19th. The company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The firm had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.75 billion. Philip Morris International had a net margin of 9.32% and a negative return on equity of 67.59%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.25 EPS. equities analysts forecast that Philip Morris International Inc will post 4.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were paid a $1.07 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date was Tuesday, September 26th. This represents a $4.28 annualized dividend and a yield of 4.17%. Philip Morris International’s payout ratio is presently 94.48%.

Philip Morris International Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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