Philip Morris International Inc. $PM Shares Purchased by Assetmark Inc.

Key Points

• Assetmark Inc. increased its Philip Morris International stake by 12.6% in the first quarter, buying 79,227 more shares and bringing its total to 709,810 shares valued at about $117.4 million.
• Wall Street sentiment remains broadly positive, with 10 analysts rating PM a Buy and only 2 a Hold; the consensus price target is $194.62.
• Philip Morris reported better-than-expected Q1 results, including EPS of $1.96 versus $1.83 expected and revenue of $10.15 billion, and it also declared a quarterly dividend of $1.47 per share payable July 20.

Assetmark Inc. raised its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 709,810 shares of the company's stock after buying an additional 79,227 shares during the quarter. Assetmark Inc.'s holdings in Philip Morris International were worth $117,360,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Paradigm Capital Management LLC NV lifted its stake in Philip Morris International by 2.7% during the 1st quarter. Paradigm Capital Management LLC NV now owns 6,017 shares of the company's stock worth $995,000 after acquiring an additional 161 shares in the last quarter. Main Street Group LTD grew its position in Philip Morris International by 54.9% in the 1st quarter. Main Street Group LTD now owns 6,984 shares of the company's stock valued at $1,155,000 after acquiring an additional 2,476 shares in the last quarter. Barings LLC purchased a new stake in Philip Morris International during the first quarter worth about $219,000. Angeles Wealth Management LLC increased its stake in Philip Morris International by 13.2% during the first quarter. Angeles Wealth Management LLC now owns 9,671 shares of the company's stock worth $1,612,000 after purchasing an additional 1,127 shares during the period. Finally, Bessemer Group Inc. lifted its position in shares of Philip Morris International by 22.8% during the first quarter. Bessemer Group Inc. now owns 881,714 shares of the company's stock worth $145,783,000 after purchasing an additional 163,729 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PM shares. UBS Group lifted their price objective on shares of Philip Morris International from $168.00 to $182.00 and gave the company a "neutral" rating in a report on Thursday, July 2nd. Needham & Company LLC reiterated a "buy" rating and set a $200.00 target price on shares of Philip Morris International in a report on Thursday, April 23rd. Stifel Nicolaus decreased their price target on shares of Philip Morris International from $200.00 to $195.00 and set a "buy" rating for the company in a research report on Friday, April 10th. Morgan Stanley boosted their price target on shares of Philip Morris International from $190.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $194.62.

Philip Morris International Stock Up 5.0%

Shares of NYSE:PM opened at $189.85 on Friday. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $193.05. The firm's 50 day moving average price is $181.93 and its 200 day moving average price is $174.25. The stock has a market cap of $295.89 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.13 and a beta of 0.38.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.83 by $0.13. Philip Morris International had a net margin of 11.61% and a negative return on equity of 142.02%. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.95 billion. During the same quarter in the previous year, the business posted $1.69 EPS. The firm's revenue was up 9.1% on a year-over-year basis. Philip Morris International has set its FY 2026 guidance at 8.360-8.510 EPS and its Q2 2026 guidance at 2.020-2.070 EPS. On average, equities analysts anticipate that Philip Morris International Inc. will post 8.37 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 20th. Shareholders of record on Thursday, June 25th will be paid a $1.47 dividend. The ex-dividend date is Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a yield of 3.1%. Philip Morris International's dividend payout ratio (DPR) is currently 82.70%.

About Philip Morris International

Philip Morris International Inc NYSE: PM is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI's product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.

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