Insigneo Advisory Expands Stake in Philip Morris by 8.7%

Insigneo Advisory Services LLC has increased its ownership in Philip Morris International Inc. (NYSE: PM) by 8.7% during the second quarter of the fiscal year. According to HoldingsChannel.com, the institutional investor now holds 9,931 shares of the tobacco giant’s stock after acquiring an additional 793 shares. As of the latest filing with the Securities and Exchange Commission, Insigneo’s stake in Philip Morris is valued at approximately $1.8 million.

Several other institutional investors have also adjusted their positions in Philip Morris. PFS Partners LLC enhanced its stake by 24.8%, now owning 292 shares valued at $53,000. Uncommon Cents Investing LLC grew its holdings by 1.1%, totaling 5,666 shares worth around $1.03 million. Meanwhile, NFP Retirement Inc. and Cranbrook Wealth Management LLC also increased their stakes by 2.5% and 6.5%, respectively. Overall, approximately 78.63% of Philip Morris International’s stock is held by institutional investors and hedge funds.

Analyst Ratings and Market Performance

Research analysts have provided a mix of ratings for Philip Morris shares. On October 8, 2023, Weiss Ratings reaffirmed a “buy (b)” rating. KGI Securities initiated coverage with an “outperform” rating on August 4, 2023. Citigroup also reiterated its “buy” rating on September 4, 2023. In contrast, Barclays reduced its target price from $220.00 to $180.00, while UBS Group adjusted its target from $177.00 to $166.00, assigning a “neutral” rating. A total of twelve analysts have rated the stock as a Buy, while one has assigned a Hold rating, resulting in a consensus rating of “Moderate Buy” and a price target of $189.56.

On the trading front, shares of Philip Morris opened at $155.24 on October 23, 2023. The stock has experienced a 12-month low of $116.12 and a high of $186.69. Its market capitalization stands at approximately $241.65 billion, with a P/E ratio of 28.12 and a beta of 0.43.

Recent Earnings and Dividend Increase

Philip Morris International announced its earnings results on March 28, 2023, reporting earnings per share of $1.59 and revenue of $8.12 billion. The company achieved a net margin of 9.33% but reported a negative return on equity of 122.14%. Analysts forecast that the company will post earnings per share of $7.14 for the current fiscal year.

In addition to its financial performance, Philip Morris has recently increased its quarterly dividend. Shareholders received $1.47 per share on October 20, 2023, for those on record as of October 3, 2023. This increase from the previous dividend of $1.35 translates to an annualized dividend of $5.88 and a yield of 3.8%. The company’s current dividend payout ratio stands at 106.52%.

Philip Morris International operates as a leading tobacco company, focusing on creating a smoke-free future and diversifying its product portfolio beyond traditional tobacco and nicotine. Its offerings include cigarettes and smoke-free products such as heat-not-burn and vapor products, primarily under the IQOS and ZYN brands, as well as consumer accessories like lighters and matches.