Veritas Asset Management LLP Sells 15,649 Shares of Philip Morris International Inc. $PM

Veritas Asset Management LLP reduced its stake in Philip Morris International Inc. (NYSE:PM) by 23.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 51,387 shares of the company’s stock after selling 15,649 shares during the quarter. Philip Morris International accounts for approximately 0.2% of Veritas Asset Management LLP’s investment portfolio, making the stock its 17th largest holding. Veritas Asset Management LLP’s holdings in Philip Morris International were worth $9,296,000 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 stock. Global Retirement Partners LLC raised its stake in Philip Morris International by 40.3% in the fourth quarter. Global Retirement Partners LLC now owns 67,177 shares of the company’s stock valued at $10,775,000 after purchasing an additional 19,309 shares in the last quarter. New York Life Investment Management LLC lifted its position in Philip Morris International by 3.6% during the fourth quarter. New York Life Investment Management LLC now owns 216,613 shares of the company’s stock worth $34,745,000 after purchasing an additional 7,600 shares during the period. Brighton Jones LLC grew its stake in Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after buying an additional 2,023 shares in the last quarter. Addison Capital Co grew its stake in Philip Morris International by 32.5% during the first quarter. Addison Capital Co now owns 31,779 shares of the company’s stock worth $5,254,000 after buying an additional 7,793 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Philip Morris International by 5.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 170,341 shares of the company’s stock valued at $27,323,000 after buying an additional 9,293 shares during the period. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on PM shares. Needham & Company LLC boosted their target price 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. Stifel Nicolaus increased their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. UBS Group lifted their price objective on shares of Philip Morris International from $168.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Bank of America restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Finally, Citigroup upped their target price on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus price target of $205.89.

Philip Morris International Stock Up 0.8%

Philip Morris International stock opened at $190.40 on Friday. The stock has a market cap of $296.76 billion, a PE ratio of 27.36, a P/E/G ratio of 2.30 and a beta of 0.38. Philip Morris International Inc. has a 12-month low of $142.11 and a 12-month high of $207.76. The business’s 50-day moving average price is $185.23 and its two-hundred day moving average price is $178.00.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, July 22nd. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.15. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The firm had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. The business’s revenue for the quarter 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. As a group, analysts expect that Philip Morris International Inc. will post 8.33 earnings per share for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed 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 was Thursday, June 25th. Philip Morris International’s dividend payout ratio is currently 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.