Convergence Investment Partners LLC Raises Holdings in Philip Morris International Inc. $PM

Key Points

• Convergence Investment Partners increased its stake in Philip Morris International by 70.9% in the first quarter, bringing its position to 22,756 shares valued at about $3.76 million.
• Philip Morris International reported better-than-expected quarterly results, with EPS of $1.96 versus $1.83 expected and revenue of $10.15 billion, up 9.1% year over year.
• The company also paid a quarterly dividend of $1.47, equal to an annualized yield of about 3.1%, while analysts currently view the stock as a Moderate Buy with a consensus price target of $194.62.

Convergence Investment Partners LLC boosted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 70.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,756 shares of the company's stock after buying an additional 9,444 shares during the period. Convergence Investment Partners LLC's holdings in Philip Morris International were worth $3,762,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its stake in Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in shares of 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 during the last quarter. Sivia Capital Partners LLC boosted its holdings in shares of Philip Morris International by 53.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company's stock valued at $1,027,000 after buying an additional 1,970 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Philip Morris International in the 2nd quarter valued at about $2,454,000. Finally, Osterweis Capital Management Inc. grew its position in shares of Philip Morris International by 2,280.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 357 shares of the company's stock worth $65,000 after buying an additional 342 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Down 0.3%

NYSE:PM opened at $192.47 on Tuesday. Philip Morris International Inc. has a twelve month low of $142.11 and a twelve month high of $194.90. The company has a market cap of $299.98 billion, a PE ratio of 27.07, a P/E/G ratio of 2.28 and a beta of 0.38. The company's 50 day moving average is $182.58 and its two-hundred day moving average is $174.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.96 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.95 billion. During the same quarter last year, the company posted $1.69 earnings per share. The business's quarterly revenue was up 9.1% on a year-over-year basis. 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, analysts expect that Philip Morris International Inc. will post 8.37 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced 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 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 82.70%.

Analyst Upgrades and Downgrades

PM has been the subject of a number of analyst reports. Needham & Company LLC reissued a "buy" rating and set a $200.00 target price on shares of Philip Morris International in a research report on Thursday, April 23rd. Stifel Nicolaus reduced their price target on Philip Morris International from $200.00 to $195.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. Bank of America reiterated a "buy" rating on shares of Philip Morris International in a report on Thursday, May 21st. UBS Group raised their price objective on Philip Morris International from $168.00 to $182.00 and gave the stock a "neutral" rating in a research report on Thursday, July 2nd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and a consensus price target of $194.62.

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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