FORA Capital LLC Takes Position in Philip Morris International Inc. $PM

Key Points

• FORA Capital LLC acquired a new stake in Philip Morris International Inc. with 8,492 shares valued at approximately $1,348,000 in the first quarter of 2023.
• Philip Morris International reported $1.91 EPS for the latest quarter, exceeding estimates, but had a revenue of $10.14 billion, slightly below expectations.
• The company recently announced a quarterly dividend of $1.35 per share, representing an annualized dividend of $5.40 with a yield of 3.2%.

FORA Capital LLC bought a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,492 shares of the company's stock, valued at approximately $1,348,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Brighton Jones LLC increased its holdings in Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after buying an additional 2,023 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Philip Morris International by 4.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after acquiring an additional 91 shares in the last quarter. AdvisorShares Investments LLC acquired a new position in Philip Morris International in the 4th quarter valued at about $289,000. AQR Capital Management LLC boosted its holdings in Philip Morris International by 170.7% in the 4th quarter. AQR Capital Management LLC now owns 1,421,848 shares of the company's stock valued at $171,119,000 after purchasing an additional 896,673 shares during the last quarter. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in Philip Morris International in the 4th quarter valued at about $12,200,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of PM stock traded up $1.38 during mid-day trading on Friday, hitting $167.15. The stock had a trading volume of 5,357,997 shares, compared to its average volume of 4,950,581. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69. The firm has a market cap of $260.18 billion, a PE ratio of 31.78, a PEG ratio of 2.41 and a beta of 0.48. The company's 50-day simple moving average is $172.04 and its 200-day simple moving average is $166.75.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same quarter last year, the business earned $1.59 EPS. The business's revenue was up 7.1% on a year-over-year basis. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. On average, analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International's dividend payout ratio (DPR) is 102.66%.

Wall Street Analyst Weigh In

PM has been the topic of several recent analyst reports. KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating on the stock. UBS Group increased their price objective on shares of Philip Morris International from $170.00 to $181.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

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.