Arizona State Retirement System Acquires 5,948 Shares of Philip Morris International Inc. $PM

Key Points

• Arizona State Retirement System increased its Philip Morris International holdings by 1.4% in the second quarter, purchasing 5,948 shares to reach 432,462 shares valued at approximately $78.2 million.
• Other institutional investors also raised their positions, and institutions collectively own 78.63% of Philip Morris stock.
• Philip Morris beat quarterly earnings and revenue expectations, while paying a $1.47 quarterly dividend. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $205.89.

Arizona State Retirement System increased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 432,462 shares of the company's stock after purchasing an additional 5,948 shares during the period. Arizona State Retirement System's holdings in Philip Morris International were worth $78,237,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PM. Bank of New York Mellon Corp increased its position in shares of Philip Morris International by 30.9% in the second 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. Global Retirement Partners LLC boosted its holdings in shares of Philip Morris International by 40.3% during the fourth quarter. Global Retirement Partners LLC now owns 67,177 shares of the company's stock worth $10,775,000 after purchasing an additional 19,309 shares during the period. Perennial Investment Advisors LLC bought a new stake in shares of Philip Morris International in the second quarter worth about $505,000. New York Life Investment Management LLC grew its stake in shares of Philip Morris International by 3.6% in the fourth quarter. New York Life Investment Management LLC now owns 216,613 shares of the company's stock worth $34,745,000 after purchasing an additional 7,600 shares during the last quarter. Finally, Addison Capital Co increased its holdings in Philip Morris International by 32.5% during the 1st quarter. Addison Capital Co now owns 31,779 shares of the company's stock valued at $5,254,000 after purchasing an additional 7,793 shares during the period. Institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

PM stock traded up $2.41 during trading on Tuesday, reaching $184.94. The company had a trading volume of 4,832,504 shares, compared to its average volume of 5,040,343. Philip Morris International Inc. has a 52 week low of $142.11 and a 52 week high of $207.76. The business has a 50 day moving average of $188.01 and a 200 day moving average of $178.75. The company has a market cap of $288.25 billion, a P/E ratio of 26.57, a PEG ratio of 2.36 and a beta of 0.37.

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

Philip Morris International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 25th were given a dividend of $1.47 per share. The ex-dividend date was Thursday, June 25th. This represents a $5.88 annualized dividend and a dividend yield of 3.2%. Philip Morris International's payout ratio is currently 84.48%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PM. Citigroup upped their price target on Philip Morris International from $210.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Needham & Company LLC lifted their price objective on Philip Morris International from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a research note on Monday, August 17th. BTIG Research set a $221.00 target price on Philip Morris International and gave the company a "buy" rating in a report on Friday, July 24th. Finally, Morgan Stanley raised their price target on Philip Morris International from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $205.89.

Philip Morris International Profile

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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