The Manufacturers Life Insurance Company Reduces Position in Philip Morris International Inc. $PM

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in Philip Morris International by 5.7%, selling 120,031 shares and maintaining ownership of 1,995,831 shares, valued at approximately $316.8 million.
• Bank of America and other analysts have elevated their target prices for Philip Morris International, with an average target of $186.27 following a strong quarterly earnings report that exceeded analysts' expectations.
• The company recently declared a quarterly dividend of $1.35, resulting in an annualized dividend yield of 3.3%, despite a hefty payout ratio of 102.66%.

The Manufacturers Life Insurance Company cut its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,995,831 shares of the company's stock after selling 120,031 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of Philip Morris International worth $316,798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PM. Perigon Wealth Management LLC raised its holdings in Philip Morris International by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after acquiring an additional 60 shares in the last quarter. TBH Global Asset Management LLC boosted its holdings in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after acquiring an additional 61 shares in the last quarter. NFP Retirement Inc. raised its position in Philip Morris International by 2.5% during the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock worth $411,000 after purchasing an additional 62 shares during the last quarter. Capital Advisors Wealth Management LLC increased its position in Philip Morris International by 2.1% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock valued at $477,000 after buying an additional 63 shares in the last quarter. Finally, Renasant Bank increased its holdings in Philip Morris International by 3.3% during the 1st quarter. Renasant Bank now owns 1,994 shares of the company's stock worth $317,000 after purchasing an additional 63 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Bank of America boosted their target price on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They issued an "outperform" rating on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective on the stock. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $186.27.

Philip Morris International Stock Performance

PM traded up $0.23 during trading on Tuesday, reaching $167.36. The stock had a trading volume of 6,011,157 shares, compared to its average volume of 6,018,723. The business has a 50-day moving average of $171.68 and a 200-day moving average of $167.11. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The stock has a market cap of $260.52 billion, a PE ratio of 31.82, a PEG ratio of 2.43 and a beta of 0.49.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. The company had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. Philip Morris International's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.59 earnings per share. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. Equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.2%. Philip Morris International's dividend payout ratio (DPR) is currently 102.66%.

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.