88,946 Shares in Philip Morris International Inc. $PM Purchased by Daiichi Life Insurance Co. Ltd.

Key Points

• Daiichi Life Insurance purchased 88,946 shares of Philip Morris International during the second quarter, valued at approximately $16.1 million. Institutional investors collectively own 78.63% of the company.
• Analysts maintain a favorable outlook, with ten Buy ratings and two Holds, producing a consensus “Moderate Buy” rating and an average price target of $205.89.
• Philip Morris reported quarterly earnings of $2.20 per share on $11.19 billion in revenue, exceeding analyst expectations, while maintaining a quarterly dividend of $1.47 per share, equivalent to a 3.1% annual yield.

Daiichi Life Insurance Co. Ltd. purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 88,946 shares of the company's stock, valued at approximately $16,091,000.

Several other institutional investors have also added to or reduced their stakes in PM. GQG Partners LLC bought a new position in shares of Philip Morris International during the second quarter valued at approximately $8,220,008,000. Capital International Investors lifted its stake in shares of Philip Morris International by 13.7% during the 4th quarter. Capital International Investors now owns 101,377,875 shares of the company's stock worth $16,262,967,000 after acquiring an additional 12,227,004 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Philip Morris International by 25.3% during the 4th quarter. Capital Research Global Investors now owns 54,559,706 shares of the company's stock worth $8,751,407,000 after acquiring an additional 11,013,173 shares during the last quarter. Capital World Investors boosted its holdings in Philip Morris International by 2.8% during the 4th quarter. Capital World Investors now owns 132,355,726 shares of the company's stock valued at $21,230,315,000 after acquiring an additional 3,579,399 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Philip Morris International by 30.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company's stock valued at $2,111,198,000 after acquiring an additional 2,755,662 shares during the period. Institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PM. Citigroup increased their target price on Philip Morris International from $210.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. Morgan Stanley upped their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Stifel Nicolaus raised their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. BTIG Research set a $221.00 price objective on shares of Philip Morris International and gave the company a "buy" rating in a report on Friday, July 24th. Finally, UBS Group boosted their price objective on shares of Philip Morris International from $168.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, July 2nd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average target price of $205.89.

Philip Morris International Trading Down 1.8%

Shares of Philip Morris International stock opened at $188.14 on Friday. The stock's fifty day moving average price is $186.03 and its 200-day moving average price is $178.36. The firm has a market cap 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. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $207.76.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $2.05 by $0.15. The company 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 firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.89 earnings per share. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Analysts forecast that Philip Morris International Inc. will post 8.33 earnings per share for the current year.

Philip Morris International Announces Dividend

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source