Philip Morris International Inc. $PM Stake Raised by Associated Banc Corp

Key Points

• Associated Banc Corp increased its stake in Philip Morris International by 1.6% in the first quarter, bringing its holdings to 579,029 shares worth about $95.7 million. PM now makes up 2.5% of the firm’s portfolio and is its eighth-largest position.
• Wall Street remains broadly bullish on PM, with 10 analysts rating it a Buy and two Hold ratings. The consensus view is a Moderate Buy with an average price target of $194.62.
• Philip Morris reported better-than-expected results for the latest quarter, posting EPS of $1.96 versus the $1.83 estimate on revenue of $10.15 billion. The company also announced a quarterly dividend of $1.47 per share, equal to a 3.2% yield.

Associated Banc Corp lifted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 579,029 shares of the company's stock after acquiring an additional 8,856 shares during the quarter. Philip Morris International accounts for 2.5% of Associated Banc Corp's holdings, making the stock its 8th biggest position. Associated Banc Corp's holdings in Philip Morris International were worth $95,737,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of PM. AG Campbell Advisory LLC acquired a new stake in shares of Philip Morris International in the fourth quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. purchased a new position in shares of Philip Morris International during the 4th quarter worth $26,000. Richards Merrill & Peterson Inc. acquired a new position in Philip Morris International in the 4th quarter valued at about $28,000. Vermillion Wealth Management Inc. lifted its holdings in Philip Morris International by 146.5% in the first quarter. Vermillion Wealth Management Inc. now owns 175 shares of the company's stock valued at $29,000 after acquiring an additional 104 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at $29,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PM. Stifel Nicolaus dropped their target price on 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 raised their price target on Philip Morris International from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Wednesday, June 3rd. Bank of America restated a "buy" rating on shares of Philip Morris International in a report on Thursday, May 21st. Needham & Company LLC restated a "buy" rating and set a $200.00 price target on shares of Philip Morris International in a research note on Thursday, April 23rd. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a research report on Wednesday, May 20th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $194.62.

Philip Morris International Trading Up 0.3%

Shares of PM traded up $0.60 during trading hours on Friday, reaching $181.77. The company had a trading volume of 4,383,992 shares, compared to its average volume of 5,000,736. The company has a market capitalization of $283.30 billion, a price-to-earnings ratio of 25.57, a PEG ratio of 2.14 and a beta of 0.38. Philip Morris International Inc. has a 12-month low of $142.11 and a 12-month high of $193.05. The firm has a 50 day simple moving average of $180.91 and a 200-day simple moving average of $173.60.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.13. Philip Morris International had a negative return on equity of 142.02% and a net margin of 11.61%.The firm had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.95 billion. During the same period in the previous year, the firm posted $1.69 earnings per share. Philip Morris International'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. Sell-side analysts forecast that Philip Morris International Inc. will post 8.39 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 20th. Stockholders of record on Thursday, June 25th will be paid a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Thursday, June 25th. Philip Morris International's payout ratio is currently 82.70%.

Philip Morris International 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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.