Teacher Retirement System of Texas Sells 266,279 Shares of Philip Morris International Inc. (NYSE:PM)

Teacher Retirement System of Texas trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM – Get Rating) by 30.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 611,701 shares of the company’s stock after selling 266,279 shares during the quarter. Teacher Retirement System of Texas’ holdings in Philip Morris International were worth $57,463,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PM. Bivin & Associates Inc. purchased a new position in Philip Morris International during the fourth quarter valued at approximately $27,000. Sandy Cove Advisors LLC purchased a new position in Philip Morris International during the first quarter valued at approximately $28,000. American National Bank lifted its holdings in Philip Morris International by 89.1% during the first quarter. American National Bank now owns 312 shares of the company’s stock valued at $29,000 after purchasing an additional 147 shares in the last quarter. Covestor Ltd purchased a new position in Philip Morris International during the fourth quarter valued at approximately $32,000. Finally, Bromfield Sneider Wealth Advisors purchased a new position in shares of Philip Morris International in the first quarter worth $37,000. 74.78% of the stock is currently owned by institutional investors.

Philip Morris International Stock Down 0.4 %

Philip Morris International stock opened at $97.60 on Friday. The company has a market cap of $151.30 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 3.80 and a beta of 0.62. The firm’s fifty day moving average is $98.48 and its 200 day moving average is $100.11. Philip Morris International Inc. has a 52-week low of $85.64 and a 52-week high of $112.48.

Philip Morris International (NYSE:PM – Get Rating) last released its quarterly earnings results on Thursday, July 21st. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.22. The company had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $6.76 billion. Philip Morris International had a net margin of 11.05% and a negative return on equity of 115.36%. Philip Morris International’s revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.57 earnings per share. On average, equities research analysts anticipate that Philip Morris International Inc. will post 5.66 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 1st were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date of this dividend was Thursday, June 30th. Philip Morris International’s dividend payout ratio (DPR) is 85.91%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PM shares. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Tuesday, July 26th. Morgan Stanley boosted their target price on shares of Philip Morris International from $104.00 to $112.00 and gave the stock an “overweight” rating in a report on Friday, April 22nd. Jefferies Financial Group lowered their target price on shares of Philip Morris International from $107.00 to $99.00 in a report on Tuesday, July 19th. Finally, Bank of America boosted their target price on shares of Philip Morris International from $107.00 to $117.00 in a report on Sunday, April 24th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $110.33.

Philip Morris International Profile

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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 that are sold in markets outside the United States.