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Philip Morris reports Q2 earnings of $1.59/share, raises dividend, and shifts to smoke-free products amid investor stake changes.
Philip Morris International reported second-quarter earnings of $1.59 per share on $8.12 billion in revenue, with a 3.8% dividend yield after raising its quarterly payout to $1.47.
The company, which continues shifting toward smoke-free products like IQOS and ZYN, saw institutional investors adjust stakes, including a 67.9% reduction by Safe Harbor Fiduciary LLC and a 106.5% increase by Elevation Point Wealth Partners LLC.
Analysts maintain a "Moderate Buy" rating with a $189 target, while the stock trades at $156.66 with a market cap of $243.87 billion.
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Philip Morris reporta ganancias del segundo trimestre de $1.59/acción, aumenta el dividendo y cambia a productos libres de humo en medio de cambios en las participaciones de los inversores.