12 Best Defensive Stocks To Buy Right Now

Page 6 of 12

7. Philip Morris International Inc. (NYSE:PM)

Number of Hedge Fund Holders: 75     

Philip Morris International Inc. (NYSE:PM) is a tobacco company. In the first nine months of 2024, the firm reported that approximately 38% of its net revenues were derived from smoke-free products, reflecting a strategic shift towards less harmful alternatives. This transition is further evidenced by the fact that, at the beginning of 2024, 38% of PMI’s global net profits came from smoke-free alternatives, surpassing traditional cigarette sales for the first time. The company has consistently increased its annual dividend every year since becoming a public company in 2008, representing a total increase of 193.5% and a compound annual growth rate of 7%. In December 2024, the Board of Directors declared a regular quarterly dividend of $1.35 per common share.

Page 6 of 12