Tocqueville Asset Management L.P. Buys Shares of 7,979 Philip Morris International Inc. $PM

Key Points

• Tocqueville Asset Management initiated a position in Philip Morris International, purchasing 7,979 shares valued at approximately $1.44 million. Institutional investors collectively own 78.63% of the company.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds; the consensus is “Moderate Buy” with an average price target of $205.89.
• Philip Morris exceeded quarterly expectations, reporting $2.20 in EPS and $11.19 billion in revenue, up 10.4% year over year. The company also pays a $1.47 quarterly dividend, representing a 3.1% yield.

Tocqueville Asset Management L.P. purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,979 shares of the company's stock, valued at approximately $1,443,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in shares of Philip Morris International by 40.3% in the 4th quarter. Global Retirement Partners LLC now owns 67,177 shares of the company's stock valued at $10,775,000 after buying an additional 19,309 shares during the period. New York Life Investment Management LLC raised its stake in Philip Morris International by 3.6% during the 4th quarter. New York Life Investment Management LLC now owns 216,613 shares of the company's stock worth $34,745,000 after buying an additional 7,600 shares during the period. Addison Capital Co raised its stake in Philip Morris International by 32.5% during the 1st quarter. Addison Capital Co now owns 31,779 shares of the company's stock worth $5,254,000 after buying an additional 7,793 shares during the period. Brighton Jones LLC raised its stake in Philip Morris International by 31.1% during the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares during the period. Finally, Orographic Financial Advisors LLC bought a new position in Philip Morris International during the first quarter worth about $1,205,000. 78.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PM shares. Needham & Company LLC boosted their target price on Philip Morris International from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Bank of America reaffirmed a "buy" rating on shares of Philip Morris International in a research report on Thursday, May 21st. Citigroup lifted their price objective on Philip Morris International from $210.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Stifel Nicolaus boosted their price objective on Philip Morris International from $195.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Finally, Barclays increased their target price on Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Philip Morris International has a consensus rating of "Moderate Buy" and an average target price of $205.89.

Philip Morris International Trading Up 1.0%

PM opened at $191.85 on Friday. The stock has a market capitalization of $299.02 billion, a P/E ratio of 27.56, a P/E/G ratio of 2.29 and a beta of 0.38. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $207.76. The firm's fifty day simple moving average is $185.96 and its 200 day simple moving average is $178.30.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $11.19 billion during the quarter, compared to analysts' expectations of $10.60 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The company's revenue was up 10.4% on a year-over-year basis. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities research analysts predict that Philip Morris International Inc. will post 8.33 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

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

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source