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flag Bank of New York Mellon increases stake in Philip Morris International, which reported strong earnings.

flag Bank of New York Mellon Corp has increased its stake in Philip Morris International (PMI) by 6.4%, holding shares worth $2.39 billion. flag PMI's latest earnings beat expectations, with EPS of $1.69 and revenue up 5.8% to $9.30 billion. flag Analysts predict PMI will post 7.14 EPS for the year. flag The stock, trading at $179, has a market cap of $278.62 billion and a P/E ratio of 36.91. flag PMI, focusing on smoke-free products, saw various institutional investors adjust their holdings.

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