Adage Capital Partners GP L.L.C. Has $225.07 Million Holdings in Philip Morris International Inc. $PM

Key Points

• Adage Capital Partners GP L.L.C. sold 35,800 shares of Philip Morris International Inc., reducing its stake by 2.5% to approximately 1.4 million shares, valued at about $225 million.
• Several institutional investors, including Linscomb Wealth Inc. and Mackenzie Financial Corp., have increased their stakes in Philip Morris, with a reported 78.63% of the stock now held by institutional investors.
• Philip Morris International's quarterly earnings surpassed expectations at $1.91 EPS, although its revenue of $10.14 billion fell short of analyst estimates, demonstrating mixed performance.

Adage Capital Partners GP L.L.C. cut its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,417,954 shares of the company's stock after selling 35,800 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.09% of Philip Morris International worth $225,072,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC boosted its position in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares during the period. Revolve Wealth Partners LLC raised its holdings in Philip Morris International by 4.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock valued at $252,000 after buying an additional 91 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in Philip Morris International by 88.5% during the fourth quarter. Aptus Capital Advisors LLC now owns 30,864 shares of the company's stock valued at $3,740,000 after buying an additional 14,490 shares in the last quarter. Alteri Wealth LLC bought a new position in Philip Morris International during the fourth quarter valued at about $212,000. Finally, Ameriprise Financial Inc. increased its stake in shares of Philip Morris International by 0.4% in the fourth quarter. Ameriprise Financial Inc. now owns 4,842,502 shares of the company's stock worth $577,610,000 after purchasing an additional 18,753 shares during the period. 78.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on PM shares. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. UBS Group dropped their price objective on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, KGI Securities started coverage on Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating on the stock. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus target price of $184.91.

Philip Morris International Stock Performance

Shares of PM stock traded up $0.46 during trading hours on Friday, hitting $161.61. The company had a trading volume of 4,056,667 shares, compared to its average volume of 4,938,799. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The firm has a market capitalization of $251.57 billion, a price-to-earnings ratio of 30.72, a PEG ratio of 2.34 and a beta of 0.49. The firm's fifty day moving average is $170.22 and its 200 day moving average is $167.24.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The company's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 EPS. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's payout ratio is presently 102.66%.

Philip Morris International Profile

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.