Philip Morris International Inc. $PM Holdings Boosted by Bank Pictet & Cie Europe AG

Key Points

• Bank Pictet & Cie Europe AG increased its Philip Morris International stake by 2.9% in the third quarter, bringing its holdings to 347,447 shares valued at approximately $66.3 million. Institutional investors collectively own 78.63% of the company.
• Analysts remain broadly bullish, with ten Buy ratings and two Holds; the stock carries a “Moderate Buy” consensus and an average price target of $207.
• Philip Morris reported quarterly adjusted earnings of $2.20 per share and revenue of $11.19 billion, beating estimates and increasing revenue 10.4% year over year. The company also raised its quarterly dividend to $1.60, implying a 3.2% annual yield.

Bank Pictet & Cie Europe AG boosted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 347,447 shares of the company's stock after purchasing an additional 9,723 shares during the quarter. Philip Morris International comprises approximately 1.3% of Bank Pictet & Cie Europe AG's investment portfolio, making the stock its 23rd largest holding. Bank Pictet & Cie Europe AG's holdings in Philip Morris International were worth $66,300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. BlackRock Inc. raised its holdings in Philip Morris International by 0.4% during the second quarter. BlackRock Inc. now owns 108,039,522 shares of the company's stock worth $19,545,430,000 after buying an additional 444,449 shares during the last quarter. State Street Corp lifted its stake in shares of Philip Morris International by 1.0% in the second quarter. State Street Corp now owns 55,569,994 shares of the company's stock valued at $10,134,454,000 after buying an additional 536,968 shares in the last quarter. GQG Partners LLC acquired a new position in shares of Philip Morris International during the second quarter valued at about $8,220,008,000. Wellington Management Group LLP grew its holdings in shares of Philip Morris International by 3.9% during the second quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company's stock valued at $3,167,041,000 after buying an additional 650,587 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Philip Morris International by 12.0% during the first quarter. Bank of America Corp DE now owns 17,230,669 shares of the company's stock valued at $2,848,919,000 after buying an additional 1,847,421 shares during the last quarter. Institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PM shares. Citigroup boosted their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Barclays raised their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Stifel Nicolaus lifted their price target on Philip Morris International from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Weiss Ratings raised Philip Morris International from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, October 8th. Finally, BTIG Research set a $221.00 price objective on Philip Morris International and gave the stock a "buy" rating in a report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $207.00.

Philip Morris International Stock Down 0.1%

PM stock traded down $0.14 during trading on Tuesday, reaching $200.91. The stock had a trading volume of 1,261,191 shares, compared to its average volume of 4,964,132. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $210.45. The company's 50 day moving average is $191.49 and its two-hundred day moving average is $182.89. The company has a market capitalization of $313.15 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 2.63 and a beta of 0.34.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.05 by $0.15. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The firm had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the business posted $1.89 EPS. The company's revenue for the quarter was up 10.4% on a year-over-year basis. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. As a group, research analysts predict that Philip Morris International Inc. will post 8.38 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 26th. Stockholders of record on Friday, October 2nd will be issued a $1.60 dividend. This is a boost from Philip Morris International's previous quarterly dividend of $1.47. This represents a $6.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 2nd. Philip Morris International's dividend payout ratio is currently 91.95%.

Philip Morris International Profile

Philip Morris International Inc NYSE: PM is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.

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