Corebridge Financial Inc. Sells 12,738 Shares of Philip Morris International Inc. $PM

Key Points

• Corebridge Financial Inc. reduced its holdings in Philip Morris International Inc. by 3.4%, owning 358,591 shares valued at approximately $56.92 million after selling 12,738 shares in the first quarter.
• Philip Morris recently announced a quarterly dividend of $1.35 per share, yielding 3.1% annually, despite a dividend payout ratio of over 102%.
• The company's latest earnings results showed a beating EPS of $1.91, surpassing expectations and reflecting a year-over-year revenue increase of 7.1%.

Corebridge Financial Inc. lessened its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 3.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 358,591 shares of the company's stock after selling 12,738 shares during the quarter. Corebridge Financial Inc.'s holdings in Philip Morris International were worth $56,919,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Philip Morris International by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock valued at $22,320,878,000 after buying an additional 1,189,283 shares in the last quarter. Wellington Management Group LLP increased its stake in Philip Morris International by 26.4% in the first 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 during the last quarter. Northern Trust Corp raised its position in Philip Morris International by 11.0% during the fourth quarter. Northern Trust Corp now owns 13,630,177 shares of the company's stock valued at $1,640,392,000 after purchasing an additional 1,347,503 shares in the last quarter. Nuveen LLC bought a new stake in Philip Morris International during the first quarter worth $1,712,994,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of 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 valued at $1,554,686,000 after purchasing an additional 3,575,158 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Down 1.5%

Shares of NYSE PM traded down $2.53 during trading on Wednesday, reaching $164.15. The company had a trading volume of 5,162,677 shares, compared to its average volume of 5,246,760. The stock has a market cap of $255.51 billion, a P/E ratio of 31.21, a PEG ratio of 2.42 and a beta of 0.48. The company's fifty day moving average price is $172.68 and its 200-day moving average price is $166.49. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The firm had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. During the same quarter last year, the business earned $1.59 EPS. The company's 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. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.3%. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. KGI Securities started coverage on Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating on the stock. Barclays decreased their target price on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 30th. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Needham & Company LLC restated a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International 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.