Philip Morris International Inc. $PM Shares Purchased by Park Avenue Securities LLC

Key Points

• Park Avenue Securities LLC has increased its stake in Philip Morris International by 4.1%, owning 113,307 shares valued at approximately $20.6 million as of the end of Q2 2023.
• Philip Morris International's stock recently opened at $162.84, with a market cap of $253.48 billion, and shows a 52-week range between $116.12 and $186.69.
• The company announced a quarterly dividend of $1.47 per share, an increase from the previous $1.35, which results in a 3.6% yield with a payout ratio of 102.66%.

Park Avenue Securities LLC lifted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,307 shares of the company's stock after acquiring an additional 4,423 shares during the period. Park Avenue Securities LLC's holdings in Philip Morris International were worth $20,637,000 at the end of the most recent quarter.

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

Philip Morris International Stock Performance

NYSE PM traded up $1.89 during trading hours on Tuesday, reaching $163.87. The stock had a trading volume of 2,512,501 shares, compared to its average volume of 5,985,277. The stock has a fifty day moving average of $166.89 and a 200 day moving average of $168.19. The stock has a market cap of $255.07 billion, a P/E ratio of 31.15, a price-to-earnings-growth ratio of 2.36 and a beta of 0.49. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, beating 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 business had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. During the same period in the previous year, the business posted $1.59 EPS. The business'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. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 20th. Shareholders of record on Friday, October 3rd will be given a $1.47 dividend. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.6%. This is a boost from Philip Morris International's previous quarterly dividend of $1.35. Philip Morris International's payout ratio is currently 102.66%.

Wall Street Analysts Forecast Growth

PM has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their target price on Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Needham & Company LLC reiterated a "buy" rating and set a $195.00 target price on shares of Philip Morris International in a research report on Wednesday, July 23rd. Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Finally, KGI Securities initiated coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating on the stock. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $184.91.

About Philip Morris International

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.