Employees Retirement System of Texas Cuts Stock Holdings in Philip Morris International Inc. (NYSE:PM)

Employees Retirement System of Texas lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 1.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 170,972 shares of the company’s stock after selling 2,508 shares during the period. Philip Morris International makes up approximately 1.0% of Employees Retirement System of Texas’ holdings, making the stock its 17th biggest position. Employees Retirement System of Texas’ holdings in Philip Morris International were worth $205,765,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NewSquare Capital LLC lifted its position in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Dunhill Financial LLC grew its holdings in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after buying an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Philip Morris International in the fourth quarter worth $33,000. Knuff & Co LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at about $36,000. Finally, Sierra Ocean LLC purchased a new stake in Philip Morris International during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Insider Activity at Philip Morris International

In related news, insider Werner Barth sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $148.67, for a total transaction of $1,486,700.00. Following the completion of the sale, the insider now owns 106,244 shares of the company’s stock, valued at $15,795,295.48. This trade represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Reginaldo Dobrowolski sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the transaction, the vice president now directly owns 20,799 shares in the company, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 131,822 shares of company stock valued at $19,655,585. Insiders own 0.13% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. StockNews.com downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. UBS Group lifted their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Barclays lifted their price objective on shares of Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus increased their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $144.56.

Philip Morris International Price Performance

Philip Morris International stock opened at $150.47 on Monday. The firm’s 50 day simple moving average is $149.12 and its 200-day simple moving average is $133.35. The company has a market cap of $234.20 billion, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $163.08.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, March 20th. Philip Morris International’s dividend payout ratio is presently 119.73%.

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.