Public Employees Retirement Association of Colorado Has $21.83 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Public Employees Retirement Association of Colorado cut its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,475 shares of the company’s stock after selling 5,675 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Philip Morris International were worth $21,834,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Iron Horse Wealth Management LLC raised its position in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International during the 2nd quarter worth $25,000. Sachetta LLC raised its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH lifted its stake in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after purchasing an additional 230 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on PM shares. JPMorgan Chase & Co. raised their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Stifel Nicolaus upped their target price on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. UBS Group lifted their price target on shares of Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $117.05.

Philip Morris International Stock Performance

NYSE:PM opened at $120.79 on Friday. The firm’s 50-day moving average is $118.17 and its 200-day moving average is $104.57. The company has a market cap of $187.77 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 2.45 and a beta of 0.55. Philip Morris International Inc. has a 52-week low of $87.23 and a 52-week high of $128.22.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be given a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Buying and Selling at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 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.