State of Alaska Department of Revenue Has $16.99 Million Stock Position in Philip Morris International Inc. (NYSE:PM)

State of Alaska Department of Revenue lifted its holdings in Philip Morris International Inc. (NYSE:PM) by 0.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 185,445 shares of the company’s stock after acquiring an additional 800 shares during the period. State of Alaska Department of Revenue’s holdings in Philip Morris International were worth $16,990,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Axxcess Wealth Management LLC grew its holdings in Philip Morris International by 59.7% during the 3rd quarter. Axxcess Wealth Management LLC now owns 27,839 shares of the company’s stock worth $2,577,000 after acquiring an additional 10,407 shares during the last quarter. London Co. of Virginia raised its holdings in shares of Philip Morris International by 52.2% in the third quarter. London Co. of Virginia now owns 3,110,353 shares of the company’s stock valued at $287,956,000 after purchasing an additional 1,066,871 shares during the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new position in shares of Philip Morris International during the 3rd quarter worth approximately $126,000. Sei Investments Co. increased its position in shares of Philip Morris International by 4.5% during the 3rd quarter. Sei Investments Co. now owns 607,999 shares of the company’s stock valued at $56,289,000 after purchasing an additional 26,234 shares during the last quarter. Finally, Royal Bank of Canada raised its position in Philip Morris International by 0.3% in the third quarter. Royal Bank of Canada now owns 6,806,099 shares of the company’s stock worth $630,108,000 after acquiring an additional 20,092 shares during the period. 78.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on PM shares. Stifel Nicolaus increased 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. Argus reiterated a “hold” rating on shares of Philip Morris International in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Hold” and an average price target of $104.22.

Insider Buying and Selling

In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was 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 directly owns 178,447 shares of the company’s stock, valued at approximately $17,205,859.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Philip Morris International Stock Performance

Shares of PM traded down $0.28 during mid-day trading on Wednesday, reaching $101.36. The stock had a trading volume of 1,647,837 shares, compared to its average volume of 5,438,788. The firm has a market cap of $157.57 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.08 and a beta of 0.58. Philip Morris International Inc. has a 12 month low of $87.23 and a 12 month high of $104.90. The business has a fifty day moving average of $100.30 and a 200 day moving average of $95.04.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Philip Morris International had a negative return on equity of 113.26% and a net margin of 8.58%. The business had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same period last year, the firm earned $1.38 earnings per share. The business’s quarterly revenue was up 8.6% on a year-over-year basis. On average, research analysts forecast that Philip Morris International Inc. will post 6.32 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Friday, June 21st will be issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

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.