Avior Wealth Management LLC Has $1.48 Million Position in Philip Morris International Inc. $PM

Key Points

• Avior Wealth Management LLC increased its stake in Philip Morris International Inc. by 202.8% in Q2 2023, holding shares worth $1.48 million as of the end of the quarter.
• The company recently declared a quarterly dividend of $1.47 per share, up from the previous $1.35, representing a 3.6% yield.
• Philip Morris International's stock has a twelve-month range from $116.12 to $186.69 and a consensus rating of "Moderate Buy" among analysts.

Avior Wealth Management LLC raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 202.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,126 shares of the company's stock after acquiring an additional 5,442 shares during the quarter. Avior Wealth Management LLC's holdings in Philip Morris International were worth $1,480,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Philip Morris International by 0.9% in the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock worth $22,320,878,000 after buying an additional 1,189,283 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock valued at $3,466,730,000 after acquiring an additional 4,563,632 shares in the last quarter. Nuveen LLC acquired a new stake in Philip Morris International in the 1st quarter worth approximately $1,712,994,000. Goldman Sachs Group Inc. lifted its holdings in Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock worth $1,431,527,000 after purchasing an additional 1,635,636 shares during the period. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. KGI Securities started coverage on shares of Philip Morris International in a research report on Monday, August 4th. They set an "outperform" rating for the company. Bank of America raised their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Jefferies Financial Group initiated coverage on Philip Morris International in a research report on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a report on Wednesday, July 23rd. Eleven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $189.40.

Philip Morris International Stock Performance

NYSE PM opened at $164.70 on Monday. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The stock has a market cap of $256.37 billion, a PE ratio of 31.31, a PEG ratio of 2.38 and a beta of 0.49. The firm has a 50-day simple moving average of $165.55 and a 200 day simple moving average of $168.55.

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

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be paid a dividend of $1.47 per share. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Friday, October 3rd. Philip Morris International's dividend payout ratio is presently 102.66%.

Philip Morris International Company 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.

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