Park Avenue Securities LLC Buys 4,423 Shares of Philip Morris International Inc. $PM

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 raised its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,307 shares of the company's stock after acquiring an additional 4,423 shares during the quarter. Park Avenue Securities LLC's holdings in Philip Morris International were worth $20,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in PM. Vanguard Group Inc. grew its holdings in shares of Philip Morris International by 0.9% in the first 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 in the last quarter. Wellington Management Group LLP boosted its holdings 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 worth $3,466,730,000 after purchasing an additional 4,563,632 shares during the period. Nuveen LLC acquired a new position in shares of Philip Morris International during the first quarter valued at $1,712,994,000. Goldman Sachs Group Inc. raised its holdings in Philip Morris International by 57.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock worth $1,554,686,000 after buying an additional 3,575,158 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock worth $1,431,527,000 after purchasing an additional 1,635,636 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Performance

PM traded up $1.08 on Friday, hitting $162.84. 10,479,787 shares of the company were exchanged, compared to its average volume of 5,532,723. The stock has a market capitalization of $253.48 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 2.36 and a beta of 0.49. The firm has a fifty day simple moving average of $167.26 and a two-hundred day simple moving average of $168.11. 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 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. The business had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The business's revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.59 earnings per share. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. On average, equities analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on PM shares. UBS Group dropped their price target on Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a research report on Friday, September 5th. Jefferies Financial Group assumed coverage on Philip Morris International in a research report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price target for the company. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays reduced their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 30th. Finally, KGI Securities started coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $184.91.

Philip Morris International Company 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.