Retirement Systems of Alabama Grows Position in Philip Morris International Inc. (NYSE:PM)

Retirement Systems of Alabama lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 12.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 878,832 shares of the company’s stock after buying an additional 98,865 shares during the period. Retirement Systems of Alabama’s holdings in Philip Morris International were worth $105,767,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sargent Investment Group LLC raised its holdings in shares of Philip Morris International by 2.2% during the 4th quarter. Sargent Investment Group LLC now owns 3,972 shares of the company’s stock valued at $467,000 after buying an additional 86 shares in the last quarter. MAS Advisors LLC bought a new position in Philip Morris International during the 4th quarter worth approximately $226,000. Tanager Wealth Management LLP bought a new position in Philip Morris International during the 4th quarter worth approximately $2,686,000. Ninety One North America Inc. grew its position in Philip Morris International by 3.4% during the 4th quarter. Ninety One North America Inc. now owns 636,336 shares of the company’s stock worth $76,583,000 after acquiring an additional 21,169 shares during the last quarter. Finally, James J. Burns & Company LLC grew its position in Philip Morris International by 112.2% during the 4th quarter. James J. Burns & Company LLC now owns 7,822 shares of the company’s stock worth $941,000 after acquiring an additional 4,136 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Up 0.0 %

Shares of NYSE:PM opened at $130.42 on Wednesday. The stock has a fifty day simple moving average of $125.22 and a two-hundred day simple moving average of $123.24. The stock has a market capitalization of $202.78 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 2.30 and a beta of 0.55. Philip Morris International Inc. has a 12-month low of $87.82 and a 12-month high of $134.15.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend was Thursday, December 26th. Philip Morris International’s payout ratio is 85.71%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PM. Barclays reduced their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus reiterated a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.35.

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.