Tower View Wealth Management LLC Acquires 8,958 Shares of Philip Morris International Inc. $PM

Key Points

• Tower View Wealth Management LLC increased its stake in Philip Morris International Inc. by 34.2%, acquiring an additional 8,958 shares in the second quarter, bringing its total holdings to 35,159 shares.
• Philip Morris International recently increased its quarterly dividend from $1.35 to $1.47 per share, reflecting a positive change and a 3.7% yield.
• Philip Morris International's earnings report beat estimates with $1.91 EPS, despite revenues of $10.14 billion falling slightly short of expectations.

Tower View Wealth Management LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 34.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 35,159 shares of the company's stock after acquiring an additional 8,958 shares during the period. Philip Morris International comprises 3.3% of Tower View Wealth Management LLC's portfolio, making the stock its 11th biggest position. Tower View Wealth Management LLC's holdings in Philip Morris International were worth $6,404,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Philip Morris International by 0.9% during the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock valued at $22,320,878,000 after purchasing an additional 1,189,283 shares during the period. Wellington Management Group LLP lifted its holdings in Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock valued at $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. Nuveen LLC purchased a new stake in Philip Morris International in the 1st quarter valued at about $1,712,994,000. Goldman Sachs Group Inc. boosted its holdings in shares of Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company's stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Philip Morris International by 22.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock valued at $1,431,527,000 after purchasing an additional 1,635,636 shares during the period. Institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PM. KGI Securities began coverage on Philip Morris International in a research report on Monday, August 4th. They set an "outperform" rating for the company. Barclays decreased their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, July 30th. Jefferies Financial Group started coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They set a "buy" rating and a $220.00 target price on the stock. UBS Group reduced their price target on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $195.44.

Philip Morris International Stock Down 2.0%

Shares of Philip Morris International stock opened at $157.71 on Friday. The company has a market cap of $245.48 billion, a P/E ratio of 29.98, a PEG ratio of 2.33 and a beta of 0.46. The firm's 50 day moving average price is $164.97 and its 200-day moving average price is $168.55. Philip Morris International Inc. has a 52-week low of $116.12 and a 52-week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.05. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. During the same period last year, the firm earned $1.59 earnings per share. Philip Morris International's revenue was up 7.1% compared to the same quarter last year. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 7.14 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 20th. Investors of record on Friday, October 3rd will be paid a dividend of $1.47 per share. This is a positive change from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date is Friday, October 3rd. This represents a $5.88 annualized dividend and a yield of 3.7%. Philip Morris International's dividend payout ratio (DPR) is presently 102.66%.

Philip Morris International Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.