Pictet Asset Management Holding SA Reduces Stock Holdings in Philip Morris International Inc. $PM

Key Points

• Pictet Asset Management reduced its Philip Morris International stake by 3.2% in the first quarter, selling 21,451 shares and leaving it with 647,012 shares valued at about $106.97 million.
• Wall Street sentiment remains constructive: 10 analysts rate PM a Buy and 2 rate it Hold, giving the stock a consensus “Moderate Buy” with an average price target of $192.88.
• Philip Morris beat quarterly expectations, reporting $1.96 EPS on $10.15 billion in revenue, and it also announced a $1.47 quarterly dividend, equal to a 3.2% yield.

Pictet Asset Management Holding SA lowered its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 647,012 shares of the company's stock after selling 21,451 shares during the quarter. Pictet Asset Management Holding SA's holdings in Philip Morris International were worth $106,974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Capital International Investors raised its stake in shares of Philip Morris International by 13.7% in the fourth quarter. Capital International Investors now owns 101,377,875 shares of the company's stock valued at $16,262,967,000 after acquiring an additional 12,227,004 shares during the period. Capital Research Global Investors boosted its stake in shares of Philip Morris International by 25.3% during the 4th quarter. Capital Research Global Investors now owns 54,559,706 shares of the company's stock worth $8,751,407,000 after purchasing an additional 11,013,173 shares during the period. Capital World Investors boosted its stake in shares of Philip Morris International by 2.8% during the 4th quarter. Capital World Investors now owns 132,355,726 shares of the company's stock worth $21,230,315,000 after purchasing an additional 3,579,399 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Philip Morris International by 36.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,301,112 shares of the company's stock valued at $1,491,898,000 after purchasing an additional 2,475,204 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in Philip Morris International by 1,547.2% during the 4th quarter. SG Americas Securities LLC now owns 2,260,217 shares of the company's stock valued at $362,539,000 after purchasing an additional 2,123,002 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Ratings Changes

PM has been the subject of several analyst reports. Bank of America reissued a "buy" rating on shares of Philip Morris International in a research note on Thursday, May 21st. Morgan Stanley increased their price target on Philip Morris International from $190.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, June 3rd. Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Stifel Nicolaus dropped their price objective on Philip Morris International from $200.00 to $195.00 and set a "buy" rating for the company in a report on Friday, April 10th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Philip Morris International in a research report on Thursday, April 23rd. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $192.88.

Philip Morris International Price Performance

Shares of PM stock opened at $180.92 on Monday. The company has a market capitalization of $281.98 billion, a P/E ratio of 25.45, a P/E/G ratio of 2.09 and a beta of 0.38. The company's 50-day simple moving average is $176.59 and its two-hundred day simple moving average is $171.75. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $193.05.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.13. The firm had revenue of $10.15 billion during the quarter, compared to the consensus estimate of $9.95 billion. Philip Morris International had a net margin of 11.61% and a negative return on equity of 142.02%. The company's revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.69 earnings per share. 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, research analysts expect that Philip Morris International Inc. will post 8.4 EPS for the current fiscal year.

Philip Morris International Announces Dividend

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