DAVENPORT & Co LLC Lowers Position in Philip Morris International Inc. $PM

DAVENPORT & Co LLC decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 2.7% during the second quarter, Holdings Channel.com reports. The firm owned 848,910 shares of the company’s stock after selling 23,703 shares during the period. Philip Morris International comprises 0.8% of DAVENPORT & Co LLC’s investment portfolio, making the stock its 29th biggest holding. DAVENPORT & Co LLC’s holdings in Philip Morris International were worth $154,423,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in shares of Philip Morris International during the 1st quarter worth about $1,712,994,000. Wellington Management Group LLP raised its holdings in Philip Morris International by 26.4% in the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after purchasing an additional 4,563,632 shares during the period. Goldman Sachs Group Inc. boosted its position in Philip Morris International by 57.5% during the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock worth $1,554,686,000 after purchasing an additional 3,575,158 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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. Finally, AQR Capital Management LLC grew its holdings in Philip Morris International by 111.1% in the first quarter. AQR Capital Management LLC now owns 3,002,216 shares of the company’s stock valued at $473,660,000 after purchasing an additional 1,580,368 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays decreased their target price on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 30th. Wall Street Zen downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. UBS Group cut their target price 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. Citigroup restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, September 4th. Finally, Jefferies Financial Group assumed coverage on Philip Morris International in a report on Wednesday, July 9th. They issued a “buy” rating and a $220.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and an average target price of $195.44.

Philip Morris International Stock Performance

NYSE PM opened at $153.09 on Monday. The stock’s fifty day moving average is $164.82 and its two-hundred day moving average is $168.76. The firm has a market capitalization of $238.30 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 2.22 and a beta of 0.46. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The business had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%.The company’s quarterly 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, sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, October 20th. Stockholders of record on Friday, October 3rd will be paid a $1.47 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. Philip Morris International’s dividend payout ratio is currently 111.79%.

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.