Bank of New York Mellon Corp Decreases Position in Philip Morris International Inc. $PM

Key Points

• Bank of New York Mellon cut its stake in Philip Morris International by 4.8% in the first quarter, selling 452,240 shares and leaving it with 8.9 million shares valued at about $1.47 billion.
• Analyst sentiment remains positive overall: the stock has a Moderate Buy consensus rating, with 10 Buy ratings and 2 Hold ratings, and a consensus price target of $194.62.
• Philip Morris reported strong quarterly results, beating EPS and revenue expectations, and it also announced a quarterly dividend of $1.47 per share for a 3.2% annualized yield.

Bank of New York Mellon Corp trimmed its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,914,216 shares of the company's stock after selling 452,240 shares during the period. Bank of New York Mellon Corp owned about 0.57% of Philip Morris International worth $1,473,877,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 145,262,397 shares of the company's stock worth $23,300,088,000 after buying an additional 1,793,949 shares in the last quarter. Capital World Investors grew its stake 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 in the last quarter. Capital International Investors raised its holdings in Philip Morris International by 13.7% in the 4th quarter. Capital International Investors now owns 101,377,875 shares of the company's stock valued at $16,262,967,000 after acquiring an additional 12,227,004 shares during the last quarter. Capital Research Global Investors raised its holdings in Philip Morris International by 25.3% in the 4th quarter. Capital Research Global Investors now owns 54,559,706 shares of the company's stock valued at $8,751,407,000 after acquiring an additional 11,013,173 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Philip Morris International by 2.5% in the 4th quarter. Invesco Ltd. now owns 15,631,408 shares of the company's stock worth $2,507,278,000 after purchasing an additional 383,786 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on PM shares. Stifel Nicolaus lowered their target price on Philip Morris International from $200.00 to $195.00 and set a "buy" rating on the stock in a report on Friday, April 10th. Needham & Company LLC reiterated a "buy" rating and set a $200.00 price objective on shares of Philip Morris International in a research report on Thursday, April 23rd. UBS Group boosted their price objective on Philip Morris International from $168.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. Morgan Stanley upped their target price on Philip Morris International from $190.00 to $200.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. Finally, Bank of America reaffirmed a "buy" rating on shares of Philip Morris International in a research note on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus target price of $194.62.

Philip Morris International Stock Performance

PM opened at $180.98 on Thursday. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $193.05. The stock has a market capitalization of $282.07 billion, a PE ratio of 25.45, a P/E/G ratio of 2.08 and a beta of 0.38. The business's 50 day moving average price is $181.56 and its 200 day moving average price is $174.05.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.13. Philip Morris International had a net margin of 11.61% and a negative return on equity of 142.02%. The company had revenue of $10.15 billion for the quarter, compared to analysts' expectations of $9.95 billion. During the same quarter in the prior year, the company posted $1.69 earnings per share. Philip Morris International's revenue for the quarter was up 9.1% compared to the same quarter last year. Philip Morris International has set its FY 2026 guidance at 8.360-8.510 EPS and its Q2 2026 guidance at 2.020-2.070 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 8.37 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 20th. Investors of record on Thursday, June 25th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Thursday, June 25th. Philip Morris International's dividend payout ratio is presently 82.70%.

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.

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