Sumitomo Life Insurance Co. Buys New Position in Philip Morris International Inc. $PM

Key Points

• Sumitomo Life Insurance initiated a position in Philip Morris International, purchasing 24,301 shares valued at approximately $4.4 million. Institutional investors collectively own 78.63% of the company.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds. The consensus price target is $205.89, while several firms recently raised their targets to between $221 and $225.
• Philip Morris reported quarterly earnings of $2.20 per share and revenue of $11.19 billion, beating expectations and marking 10.4% year-over-year revenue growth. The company also pays a quarterly dividend of $1.47 per share, equivalent to a 3.1% yield.

Sumitomo Life Insurance Co. bought a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 24,301 shares of the company's stock, valued at approximately $4,396,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Philip Morris International by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 145,262,397 shares of the company's stock valued at $23,300,088,000 after acquiring an additional 1,793,949 shares during the last quarter. Capital World Investors grew its stake in shares of Philip Morris International by 2.8% in 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 last quarter. BlackRock Inc. grew its stake in shares of Philip Morris International by 0.4% in the 2nd quarter. BlackRock Inc. now owns 108,039,522 shares of the company's stock worth $19,545,430,000 after purchasing an additional 444,449 shares during the last quarter. Capital International Investors raised its holdings in shares of Philip Morris International by 13.7% in the 4th quarter. Capital International Investors now owns 101,377,875 shares of the company's stock worth $16,262,967,000 after purchasing an additional 12,227,004 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Philip Morris International by 25.3% in 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 in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. UBS Group increased their target price on shares of Philip Morris International from $168.00 to $182.00 and gave the company a "neutral" rating in a research note on Thursday, July 2nd. BTIG Research set a $221.00 price target on shares of Philip Morris International and gave the stock a "buy" rating in a research report on Friday, July 24th. Barclays upped their price target on Philip Morris International from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Stifel Nicolaus raised their price objective on Philip Morris International from $195.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Finally, Citigroup lifted their target price on Philip Morris International from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $205.89.

Philip Morris International Trading Down 1.8%

PM stock opened at $188.14 on Friday. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $207.76. The firm has a market capitalization of $293.24 billion, a PE ratio of 27.03, a P/E/G ratio of 2.31 and a beta of 0.38. The firm has a 50-day moving average of $186.03 and a two-hundred day moving average of $178.36.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share 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 business had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm posted $1.89 earnings per share. The firm's quarterly revenue 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 research analysts anticipate that Philip Morris International Inc. will post 8.33 earnings per share for the current year.

Philip Morris International Announces Dividend

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

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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