Bank of Nova Scotia Cuts Stake in Philip Morris International Inc. $PM

Bank of Nova Scotia lowered its stake in shares of Philip Morris International Inc. (NYSE:PM) by 25.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,061,473 shares of the company’s stock after selling 359,789 shares during the period. Bank of Nova Scotia’s holdings in Philip Morris International were worth $175,504,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of PM. AG Campbell Advisory LLC purchased a new position in Philip Morris International during the fourth quarter valued at $25,000. Portfolio Resources Advisor Group Inc. bought a new stake in Philip Morris International in the 4th quarter valued at $26,000. Richards Merrill & Peterson Inc. purchased a new stake in Philip Morris International in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. lifted its stake in Philip Morris International by 146.5% in the 1st quarter. Vermillion Wealth Management Inc. now owns 175 shares of the company’s stock worth $29,000 after purchasing an additional 104 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Key Philip Morris International News

Here are the key news stories impacting Philip Morris International this week:

• Positive Sentiment: Philip Morris beat Q2 estimates, reporting adjusted EPS of $2.20 on revenue of $11.19 billion, both above expectations, while smoke-free products like IQOS, ZYN, and VEEV drove growth and margin expansion. Philip Morris Trimmed Guidance, But Its Growth Story Looks Unshaken
• Positive Sentiment: Several analysts turned more constructive after the earnings release, including Stifel raising its price target to $205, Needham lifting its target to $215, and BTIG upgrading the stock to strong-buy. Analyst updates on Philip Morris price targets
• Positive Sentiment: The company’s smoke-free business continues to gain traction, with one report noting smoke-free products now make up 42% of revenue, supporting the long-term growth story. Philip Morris: The First $11 Billion Quarter Won’t Be The Last
• Neutral Sentiment: Management raised investment in ZYN and highlighted strong nicotine pouch momentum, which supports growth but also signals higher spending to sustain it. Philip Morris to lift Zyn investment, cigarette demand drives earnings beat
• Negative Sentiment: Philip Morris trimmed full-year EPS guidance, citing currency pressure and costs tied to Middle East conflict, which is weighing on enthusiasm despite the strong quarter. Philip Morris Trims Forecast on Currencies, Iran War Costs

Philip Morris International Stock Down 1.6%

Shares of PM opened at $191.13 on Friday. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $199.78. The business has a fifty day moving average of $182.72 and a 200 day moving average of $175.34. The company has a market cap of $297.89 billion, a PE ratio of 27.46, a P/E/G ratio of 2.29 and a beta of 0.38.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.05 by $0.15. Philip Morris International had a net margin of 13.05% and a negative return on equity of 163.41%. The company had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm posted $1.89 EPS. The firm’s revenue 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, research analysts anticipate that Philip Morris International Inc. will post 8.37 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Thursday, June 25th. Philip Morris International’s dividend payout ratio (DPR) is 82.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PM shares. Needham & Company LLC raised their price objective on Philip Morris International from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Thursday. UBS Group boosted their target price on Philip Morris International from $168.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, July 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Stifel Nicolaus raised their price target on Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $201.44.

About Philip Morris International

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.