Philip Morris International Inc. $PM Stock Sold by Perpetual Ltd

Key Points

• Perpetual Ltd reduced its Philip Morris International position by 14.5% in the third quarter, selling 146,283 shares and retaining 861,553 shares worth approximately $164.4 million. Institutional investors own 78.63% of the stock.
• Analysts remain broadly bullish, with a consensus rating of “Moderate Buy” and an average price target of $207. Ten analysts rated the stock Buy, while two assigned Hold ratings.
• Philip Morris reported quarterly EPS of $2.20, beating estimates, while revenue rose 10.4% year over year to $11.19 billion. The company also increased its quarterly dividend to $1.60, representing a 3.2% annualized yield.

Perpetual Ltd cut its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 14.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 861,553 shares of the company's stock after selling 146,283 shares during the period. Philip Morris International makes up approximately 2.6% of Perpetual Ltd's investment portfolio, making the stock its 10th largest position. Perpetual Ltd owned about 0.06% of Philip Morris International worth $164,402,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. JGP Wealth Management LLC acquired a new position in Philip Morris International in the 3rd quarter valued at $287,000. Grove Bank & Trust grew its holdings in shares of Philip Morris International by 2.1% during the 3rd quarter. Grove Bank & Trust now owns 9,040 shares of the company's stock worth $1,725,000 after purchasing an additional 189 shares in the last quarter. Echo45 Advisors LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter worth $226,000. Tompkins Financial Corp increased its position in shares of Philip Morris International by 3.3% in the third quarter. Tompkins Financial Corp now owns 18,315 shares of the company's stock worth $3,495,000 after purchasing an additional 592 shares during the period. Finally, Eastern Bank increased its position in shares of Philip Morris International by 29.4% in the third quarter. Eastern Bank now owns 3,271 shares of the company's stock worth $624,000 after purchasing an additional 743 shares during the period. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Morgan Stanley boosted their price target on Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Barclays increased their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Stifel Nicolaus raised their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Weiss Ratings upgraded shares of Philip Morris International from a "buy (b)" rating to a "buy (b+)" rating in a research report on Thursday. Finally, BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a "buy" rating in a research report on Friday, July 24th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $207.00.

Philip Morris International Stock Performance

Shares of PM stock opened at $202.00 on Tuesday. The stock's fifty day moving average price is $190.05 and its two-hundred day moving average price is $181.56. The company has a market cap of $314.83 billion, a PE ratio of 29.02, a P/E/G ratio of 2.60 and a beta of 0.34. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $207.76.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.05 by $0.15. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%. The company had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter last year, the company posted $1.89 EPS. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 8.44 EPS 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. Shareholders of record on Friday, October 2nd will be given a $1.60 dividend. This is a boost from Philip Morris International's previous quarterly dividend of $1.47. This represents a $6.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 2nd. Philip Morris International's dividend payout ratio (DPR) is presently 91.95%.

Philip Morris International Profile

Philip Morris International Inc is a global tobacco and nicotine company headquartered in Stamford, Connecticut. The company operates in markets outside the United States and sells products across more than 180 countries. Its portfolio includes cigarettes, heated tobacco products, nicotine pouches, e-cigarettes and other smoke-free alternatives.

Philip Morris International's traditional cigarette brands include Marlboro, Parliament, L&M, Chesterfield and Bond Street. The company has increasingly focused on developing and commercializing smoke-free products, including IQOS heated tobacco devices and consumables, ZYN nicotine pouches and VEEV e-cigarettes.

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