1,608,480 Shares in Philip Morris International Inc. $PM Acquired by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia acquired 1.61 million shares of Philip Morris International in the second quarter, valued at approximately $291 million. Institutional investors collectively own 78.63% of the company.
• Philip Morris reported quarterly EPS of $2.20, exceeding the $2.05 consensus estimate, while revenue rose 10.4% year over year to $11.19 billion. The company issued third-quarter EPS guidance of $2.20–$2.25.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $205.89; Philip Morris also maintains a quarterly dividend of $1.47, yielding about 3.1% annually.

Bank of Nova Scotia bought a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,608,480 shares of the company's stock, valued at approximately $290,990,000. Bank of Nova Scotia owned 0.10% of Philip Morris International as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after acquiring an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Philip Morris International by 4.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after purchasing an additional 91 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Philip Morris International by 53.7% in the second quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company's stock worth $1,027,000 after buying an additional 1,970 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Philip Morris International in the second quarter worth $2,454,000. Finally, Osterweis Capital Management Inc. boosted its holdings in shares of Philip Morris International by 2,280.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 357 shares of the company's stock worth $65,000 after buying an additional 342 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

PM opened at $188.14 on Friday. The company has a market capitalization of $293.24 billion, a P/E ratio of 27.03, a P/E/G ratio of 2.27 and a beta of 0.38. The firm's fifty day moving average price is $186.03 and its two-hundred day moving average price is $178.36. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $207.76.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.15. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.60 billion. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The company's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 earnings per share. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities research analysts expect that Philip Morris International Inc. will post 8.33 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Thursday, June 25th were given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, June 25th. Philip Morris International's dividend payout ratio is 84.48%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Barclays upped their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. BTIG Research set a $221.00 price target on Philip Morris International and gave the company a "buy" rating in a research report on Friday, July 24th. Bank of America reissued a "buy" rating on shares of Philip Morris International in a research report on Thursday, May 21st. Finally, Citigroup increased their target price on Philip Morris International from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $205.89.

About Philip Morris International

Philip Morris International Inc NYSE: PM is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI's product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.

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