Philip Morris International (PM) has caught the attention of Reddit users as a potential best defensive stock. The stock has outperformed competitors in trading and increased its dividend by
3.8% to an annual norm of $5.40 per share. Diversify Wealth Management LLC acquired 22,399 shares from PM and this decision follows a $600 million investment in a new manufacturing facility in Colorado, making room for 500 new jobs. PM has also expanded its smoke-free products line, while the result of its heated tobacco sticks sales have surpassed estimates. PM is targeted by health advocates amid its US launch of heated tobacco.
Billionaire Stan Druckenmiller is among prominent investors of PM, finding it a valuable investment. It seems the belief in PM's potential is further backed up by the company's raised outlook following its Q2 earnings beat. Furthermore, the company raised its quarterly dividend to
$1.35. PM also purchased a
14.7% stake in Egypt's Eastern Company hinting at overseas expansion. A separate $232 Million investment might result in 450 new jobs in Kentucky, further demonstrating PM's growth strategy.
Philip Morris International PM News Analytics from Tue, 13 Feb 2024 08:00:00 GMT to Sun, 15 Sep 2024 10:34:26 GMT -
Rating 7
- Innovation -3
- Information 8
- Rumor -6
