Philip Morris International Inc. $PM Shares Sold by Hamlin Capital Management LLC

Key Points

• Hamlin Capital Management reduced its Philip Morris position by 13.3% in the second quarter, selling 97,207 shares and retaining 634,664 shares valued at approximately $114.8 million.
• Philip Morris reported stronger-than-expected quarterly results, with EPS of $2.20 and revenue of $11.19 billion, up 10.4% year over year. The company also declared a $1.47 quarterly dividend, equivalent to a 3.1% annualized yield.
• Wall Street sentiment remains positive: ten analysts rate the stock a Buy and two rate it Hold, producing a “Moderate Buy” consensus and an average price target of $205.89 versus the reported share price of $189.24.

Hamlin Capital Management LLC trimmed its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 13.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 634,664 shares of the company's stock after selling 97,207 shares during the period. Philip Morris International comprises about 2.6% of Hamlin Capital Management LLC's investment portfolio, making the stock its 24th largest position. Hamlin Capital Management LLC's holdings in Philip Morris International were worth $114,817,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Philip Morris International by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 145,262,397 shares of the company's stock worth $23,300,088,000 after purchasing an additional 1,793,949 shares during the last quarter. Capital World Investors increased its stake in Philip Morris International by 2.8% in the fourth quarter. Capital World Investors now owns 132,355,726 shares of the company's stock valued at $21,230,315,000 after purchasing an additional 3,579,399 shares during the last quarter. Capital International Investors lifted its position in Philip Morris International by 13.7% during the fourth quarter. Capital International Investors now owns 101,377,875 shares of the company's stock worth $16,262,967,000 after buying an additional 12,227,004 shares during the period. Capital Research Global Investors lifted its position in Philip Morris International by 25.3% during the fourth quarter. Capital Research Global Investors now owns 54,559,706 shares of the company's stock worth $8,751,407,000 after buying an additional 11,013,173 shares during the period. Finally, Bank of America Corp DE grew its holdings in Philip Morris International by 12.0% in the 1st 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 period. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

NYSE PM opened at $189.24 on Thursday. The firm has a market capitalization of $294.95 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 2.26 and a beta of 0.38. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $207.76. The company's 50 day moving average price is $183.59 and its 200 day moving average price is $177.23.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Philip Morris International'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. Sell-side analysts forecast that Philip Morris International Inc. will post 8.33 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 25th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Thursday, June 25th. Philip Morris International's dividend payout ratio is 84.48%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Citigroup increased their price objective on shares of Philip Morris International from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $195.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Barclays upped their price objective on Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Needham & Company LLC increased their target price on Philip Morris International from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, BTIG Research set a $221.00 target price on Philip Morris International and gave the company a "buy" rating in a report on Friday, July 24th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and a consensus price target of $205.89.

Philip Morris International Company Profile

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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