Billionaire Stanley Druckenmiller Bet Big on This High-Yield Dividend Stock, and It's Up 41% This Year. Is It Too Late to Buy?

Core Viewpoint - Philip Morris International has shown strong performance and growth potential, particularly in next-generation products, making it an attractive investment opportunity despite the overall decline in smoking rates globally [2][4][6]. Company Performance - Philip Morris reported third-quarter revenue of $9.91 billion, reflecting an 11.6% organic growth, surpassing analyst estimates of $9.69 billion [4]. - The company's smoke-free business generated organic revenue growth of 16.8%, amounting to $3.8 billion, while the combustibles segment saw an 8.6% organic revenue increase, with cigarette volumes rising by 1.3% to 163.2 billion [4][5]. - Organic operating income increased by 13.8% to $3.7 billion, and adjusted earnings per share (EPS) rose by 14.4% to $1.91 [5]. Growth Drivers - Approximately 40% of Philip Morris's revenue now comes from next-generation products, including Iqos devices and Zyn nicotine pouches, with significant investments in expanding production capabilities [4]. - Shipments of Zyn increased by 22.2% to 4.4 billion, contributing to the company's overall growth [5]. Future Outlook - The company raised its full-year adjusted EPS guidance to a range of $6.45 to $6.51, up from the previous range of $6.33 to $6.45, indicating strong future performance [5]. - Philip Morris trades at a premium price-to-earnings (P/E) ratio of 20, reflecting investor confidence in its growth prospects, especially compared to peers trading at single-digit P/E ratios [6]. - The company offers a 4.5% dividend yield and recently increased its dividend by 3.8% to $1.35 per quarter, suggesting a commitment to returning value to shareholders [6].