Keybank Increases Philip Morris International Stake 14% to $26M; National Pension Service at $618M
Keybank National Association OH boosted its 3rd quarter Philip Morris International stake 14.0% to 160,708 shares worth $26.07 million in its Form 13F filing. National Pension Service raised holdings 2.7% to 3.81 million shares valued at $618.07 million, while Berman McAleer LLC opened a 2,965-share position worth $481,000.
1. KeyBank National Association Increases Stake
In the most recent Form 13F filing, KeyBank National Association OH boosted its holdings in Philip Morris International by 14.0%, acquiring an additional 19,773 shares during the third quarter. Following this purchase, the fund held 160,708 shares valued at approximately $26.1 million. This notable increase reinforces KeyBank’s confidence in PMI’s strategic shift toward smoke-free products and global distribution network expansion.
2. Institutional Ownership Remains Concentrated
Philip Morris International continues to attract substantial institutional interest, with hedge funds and other large investors controlling 78.63% of outstanding shares. Recent activity includes Legacy Investment Solutions and Traub Capital each initiating positions worth $25,000 in the second quarter, while Marquette Asset Management expanded its stake by 1,677.8% through the acquisition of 151 shares. Briaud Financial Planning and Estabrook Capital Management also lifted small positions by 266.7% and $30,000 respectively, underscoring diversified institutional backing across large and boutique asset managers.
3. Analyst Consensus Supports Moderate Buy Rating
Equity research firms maintain a favorable stance on PMI, with eleven analysts assigning Buy ratings and two holding ratings. Consensus forecasts reflect enthusiasm for PMI’s transition to reduced-risk products, with average target projections near $184.56. Recent analyst activity includes JPMorgan Chase & Co. reaffirming an overweight recommendation, Goldman Sachs upholding its buy rating, and Stifel Nicolaus reiterating a $180 target. MarketBeat data indicates an aggregate “Moderate Buy” consensus, suggesting sustained momentum in investor sentiment.
4. Dividend Policy and Payout Ratio Highlighted
Philip Morris International recently declared a quarterly dividend of $1.47 per share, translating to an annualized payout of $5.88 and a yield of approximately 3.3%. Record date for the distribution was December 26, with payment executed on January 14. The company’s dividend payout ratio stands at 106.5%, reflecting management’s commitment to returning capital to shareholders even as it invests in smoke-free product development and marketing initiatives.