Philip Morris International Inc. $PM Shares Sold by Zurich Insurance Group Ltd FI

Key Points

• Zurich Insurance Group Ltd FI reduced its stake in Philip Morris International by 10.8%, selling 102,229 shares and bringing its total holdings to 840,119 shares.
• Several institutional investors have also changed their positions, with notable investments including Pacific Partners Inc. increasing their stake by 115% in the first quarter.
• Analyst ratings for Philip Morris International remain positive, with 12 out of 13 analysts giving it a Buy rating and a consensus target price of $184.91.

Zurich Insurance Group Ltd FI trimmed its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 10.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 840,119 shares of the company's stock after selling 102,229 shares during the period. Philip Morris International accounts for about 1.1% of Zurich Insurance Group Ltd FI's holdings, making the stock its 19th biggest holding. Zurich Insurance Group Ltd FI owned 0.05% of Philip Morris International worth $133,352,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Linscomb Wealth Inc. increased its position in Philip Morris International by 3.3% during the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock worth $13,207,000 after purchasing an additional 2,669 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Philip Morris International by 7.3% during the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock valued at $568,873,000 after acquiring an additional 242,799 shares during the last quarter. 49 Wealth Management LLC increased its position in shares of Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after acquiring an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO increased its position in shares of Philip Morris International by 704.0% during the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock valued at $22,690,000 after acquiring an additional 125,171 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after acquiring an additional 87,631 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PM. KGI Securities began coverage on shares of Philip Morris International in a research report on Monday, August 4th. They set an "outperform" rating for the company. Bank of America lifted their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Jefferies Financial Group started coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. UBS Group lowered their price objective on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating for the company in a research note on Friday, September 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and a consensus price target of $184.91.

Philip Morris International Price Performance

Shares of NYSE:PM traded down $1.72 during trading on Friday, hitting $166.18. 3,691,351 shares of the company were exchanged, compared to its average volume of 4,931,464. The stock has a market capitalization of $258.67 billion, a P/E ratio of 31.59, a PEG ratio of 2.44 and a beta of 0.49. Philip Morris International Inc. has a 12-month low of $116.12 and a 12-month high of $186.69. The firm's 50 day moving average price is $168.89 and its 200-day moving average price is $167.64.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The company's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.59 EPS. Philip Morris International has set its Q3 2025 guidance at 2.080-2.130 EPS. As a group, equities research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

About Philip Morris International

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.