Veritas Asset Management LLP Has $9.30 Million Holdings in Philip Morris International Inc. $PM

Key Points

• Veritas Asset Management reduced its Philip Morris International stake by 23.3% in the second quarter, selling 15,649 shares and retaining 51,387 shares worth approximately $9.3 million.
• Philip Morris reported stronger-than-expected quarterly results, with EPS of $2.20 versus the $2.05 consensus and revenue of $11.19 billion, up 10.4% year over year. The company issued third-quarter EPS guidance of $2.20–$2.25.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $205.89 target price; the company also pays a $1.47 quarterly dividend, equivalent to a 3.1% annualized yield.

Veritas Asset Management LLP decreased its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 23.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,387 shares of the company's stock after selling 15,649 shares during the period. Philip Morris International comprises approximately 0.2% of Veritas Asset Management LLP's investment portfolio, making the stock its 17th biggest holding. Veritas Asset Management LLP's holdings in Philip Morris International were worth $9,296,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Joel Isaacson & Co. LLC boosted its stake in shares of Philip Morris International by 1.5% during the 2nd quarter. Joel Isaacson & Co. LLC now owns 8,995 shares of the company's stock worth $1,627,000 after acquiring an additional 133 shares during the period. McAdam LLC increased its holdings in shares of Philip Morris International by 52.0% during the 2nd quarter. McAdam LLC now owns 3,992 shares of the company's stock worth $722,000 after acquiring an additional 1,365 shares during the last quarter. Transcend Capital Advisors LLC raised its stake in Philip Morris International by 52.5% in the 2nd quarter. Transcend Capital Advisors LLC now owns 22,899 shares of the company's stock valued at $4,143,000 after acquiring an additional 7,882 shares during the period. Garrett Wealth Advisory Group LLC raised its stake in Philip Morris International by 4.1% in the 2nd quarter. Garrett Wealth Advisory Group LLC now owns 3,945 shares of the company's stock valued at $714,000 after acquiring an additional 154 shares during the period. Finally, SYM FINANCIAL Corp lifted its holdings in Philip Morris International by 17.5% during the 2nd quarter. SYM FINANCIAL Corp now owns 2,471 shares of the company's stock valued at $447,000 after purchasing an additional 368 shares during the last quarter. 78.63% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Price Performance

PM opened at $190.40 on Friday. The business has a fifty day simple moving average of $185.23 and a 200 day simple moving average of $178.00. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $207.76. The company has a market capitalization of $296.76 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.38.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 163.41% and a net margin of 11.06%.The firm had revenue of $11.19 billion for the quarter, compared to analysts' expectations of $10.60 billion. During the same quarter last year, the business earned $1.89 EPS. The company'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. Equities analysts anticipate that Philip Morris International Inc. will post 8.33 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on PM shares. Barclays lifted 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 report on Wednesday, July 29th. Needham & Company LLC increased their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the company a "buy" rating in a research report on Thursday, July 23rd. Morgan Stanley raised their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Citigroup lifted their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, BTIG Research set a $221.00 price target on shares of Philip Morris International and gave the company a "buy" rating in a research note on Friday, July 24th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.89.

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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