Philip Morris International (PM) is experiencing a strong performance in the market, outstripping competitors and reaching a new 52-week high at $119.10. The company has caught the attention of major investors including First Merchants Corp and Atlantic Union Bankshares Corp while maintaining impressive institutional ownership above 79%. The company's focus on smoke-free products have led to significant increases in business performance, notably beating estimates for the second quarter of 2024.
Some extra insights here include PM's dividend growth, anticipated to increase alongside stock value. Additionally, it is being favoured by hedge funds and considered a prime choice for dividends. Jim Cramer's statement regarding not recommending tobacco stocks doesn't appear to be negatively impacting PM's performance. The company's U.S. affiliate plans to invest $600 million in a new manufacturing facility in Aurora, Colorado, creating 500 jobs. Finally, Billionaire Paul Tudor Jones views PM as a top dividend stock for 2024 and PM’s updated full year guidance positively impacts future forecasts.
Philip Morris International PM News Analytics from Thu, 08 Feb 2024 08:00:00 GMT to Sun, 25 Aug 2024 13:54:13 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor -2
