Essex Financial Services Inc. Has $5.33 Million Holdings in Philip Morris International Inc. $PM

Key Points

• Essex Financial Services Inc. increased its holdings in Philip Morris International by 11.3% during the second quarter, now owning shares worth $5.33 million.
• Philip Morris International recently announced a quarterly dividend of $1.47 per share, a boost from its previous dividend of $1.35, reflecting an annualized dividend yield of 3.6%.
• Investment analysts have a generally positive outlook on Philip Morris International, with twelve rating it as a Buy and a median price target of $184.91 per share.

Essex Financial Services Inc. grew its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 11.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,269 shares of the company's stock after buying an additional 2,965 shares during the quarter. Essex Financial Services Inc.'s holdings in Philip Morris International were worth $5,331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PM. Abound Wealth Management lifted its position in Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company's stock worth $29,000 after buying an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA bought a new stake in Philip Morris International during the 1st quarter worth about $30,000. CBIZ Investment Advisory Services LLC lifted its position in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock worth $32,000 after buying an additional 162 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd bought a new stake in Philip Morris International during the 1st quarter worth about $34,000. Finally, Pacifica Partners Inc. lifted its position in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after buying an additional 115 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PM shares. Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 target price for the company. UBS Group cut their target price on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a research note on Friday, September 5th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. Finally, KGI Securities initiated coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating for the company. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $184.91.

Philip Morris International Stock Down 0.3%

Philip Morris International stock opened at $163.21 on Thursday. The stock has a market cap of $254.04 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.38 and a beta of 0.49. Philip Morris International Inc. has a twelve month low of $116.12 and a twelve month high of $186.69. The company's 50-day moving average price is $166.14 and its two-hundred day moving average price is $168.13.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.91 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 company had revenue of $10.14 billion for the quarter, compared to analysts' expectations of $10.33 billion. During the same period last year, the firm earned $1.59 earnings per share. The business's revenue for the quarter was up 7.1% on a year-over-year basis. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. Equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be issued a dividend of $1.47 per share. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, October 3rd. Philip Morris International's payout ratio is 111.79%.

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.

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