Assenagon Asset Management S.A. Grows Position in Philip Morris International Inc. $PM

Key Points

• Assenagon Asset Management increased its Philip Morris stake by 310.4% in the second quarter, buying 596,655 additional shares for a total holding worth approximately $142.7 million. Institutional investors collectively own 78.63% of the company.
• Analysts remain broadly positive, with ten Buy ratings and two Holds. The stock has an average price target of $205.89, compared with its reported opening price of $187.95.
• Philip Morris exceeded quarterly expectations, reporting $2.20 in EPS and $11.19 billion in revenue, up 10.4% year over year. The company also pays a quarterly dividend of $1.47, equivalent to a 3.1% annual yield.

Assenagon Asset Management S.A. raised its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 310.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 788,905 shares of the company's stock after purchasing an additional 596,655 shares during the quarter. Assenagon Asset Management S.A. owned about 0.05% of Philip Morris International worth $142,721,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PM. AG Campbell Advisory LLC acquired a new stake in Philip Morris International during the 4th quarter valued at approximately $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in shares of Philip Morris International in the fourth quarter worth $26,000. Richards Merrill & Peterson Inc. purchased a new position in shares of Philip Morris International during the fourth quarter worth $28,000. Safe Harbor Fiduciary LLC acquired a new position in Philip Morris International during the fourth quarter valued at $29,000. Finally, Vermillion Wealth Management Inc. boosted its holdings in Philip Morris International by 146.5% in the first quarter. Vermillion Wealth Management Inc. now owns 175 shares of the company's stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BTIG Research set a $221.00 price objective on Philip Morris International and gave the company a "buy" rating in a report on Friday, July 24th. Morgan Stanley lifted their price target on Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Needham & Company LLC upped 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. Bank of America reaffirmed a "buy" rating on shares of Philip Morris International in a research note on Thursday, May 21st. Finally, UBS Group lifted their target price on shares of Philip Morris International from $168.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 2nd. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and an average target price of $205.89.

Philip Morris International Stock Down 0.5%

NYSE:PM opened at $187.95 on Friday. Philip Morris International Inc. has a 52 week low of $142.11 and a 52 week high of $207.76. The stock's 50-day moving average price is $183.77 and its 200-day moving average price is $177.33. The stock has a market capitalization of $292.95 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.28 and a beta of 0.38.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.15. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.60 billion. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.Philip Morris International's revenue for the quarter was up 10.4% on a year-over-year basis. 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. Sell-side analysts expect that Philip Morris International Inc. will post 8.33 earnings per share 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. Investors of record on Thursday, June 25th were paid a $1.47 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a yield of 3.1%. Philip Morris International's dividend payout ratio (DPR) is currently 84.48%.

Philip Morris International Company 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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