VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Position in Philip Morris International Inc. $PM

Key Points

• Virginia Retirement Systems acquired 493,600 Philip Morris International shares worth approximately $89.3 million in the second quarter. Institutional investors collectively own 78.63% of the company.
• Analysts remain broadly positive, with 10 Buy ratings and two Holds; Philip Morris has a consensus “Moderate Buy” rating and an average price target of $205.89.
• Philip Morris beat quarterly expectations with $2.20 EPS and $11.19 billion in revenue, while revenue rose 10.4% year over year. The company also pays a $1.47 quarterly dividend, equivalent to a 3.2% annual yield.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 493,600 shares of the company's stock, valued at approximately $89,297,000.

A number of other institutional investors also recently bought and sold shares of PM. 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 valued at $21,230,315,000 after buying an additional 3,579,399 shares during the period. BlackRock Inc. raised its position in shares of Philip Morris International by 0.4% during the 2nd quarter. BlackRock Inc. now owns 108,039,522 shares of the company's stock valued at $19,545,430,000 after buying an additional 444,449 shares during the period. Capital International Investors lifted its holdings in 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 last quarter. Capital Research Global Investors lifted its holdings in Philip Morris International by 25.3% in the fourth quarter. Capital Research Global Investors now owns 54,559,706 shares of the company's stock valued at $8,751,407,000 after acquiring an additional 11,013,173 shares during the last quarter. Finally, GQG Partners LLC purchased a new position in Philip Morris International in the second quarter worth approximately $8,220,008,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on PM. Morgan Stanley raised their target price on 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 upped their price target on Philip Morris International from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. Barclays increased their price target on Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a report on Wednesday, July 29th. Needham & Company LLC raised their price objective on Philip Morris International from $200.00 to $215.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Finally, Bank of America restated a "buy" rating on shares of Philip Morris International in a report on Thursday, May 21st. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average price target of $205.89.

Philip Morris International Stock Performance

NYSE:PM opened at $182.36 on Monday. The stock has a market capitalization of $284.23 billion, a P/E ratio of 26.20, a PEG ratio of 2.36 and a beta of 0.37. The company has a 50 day moving average price of $188.02 and a 200 day moving average price of $178.76. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $207.76.

Philip Morris International (NYSE:PM - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.15. The company had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.60 billion. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.89 earnings per share. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Research analysts forecast that Philip Morris International Inc. will post 8.33 earnings per share 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. Stockholders of record on Thursday, June 25th were paid a $1.47 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.2%. 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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