Pinnacle Associates Ltd. Boosts Holdings in Philip Morris International Inc. $PM

Pinnacle Associates Ltd. boosted its stake in Philip Morris International Inc. (NYSE:PM) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,844 shares of the company’s stock after acquiring an additional 3,991 shares during the period. Pinnacle Associates Ltd.’s holdings in Philip Morris International were worth $12,274,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PM. AG Campbell Advisory LLC bought a new position in shares of Philip Morris International during the 4th quarter valued at approximately $25,000. Portfolio Resources Advisor Group Inc. bought a new stake in shares of Philip Morris International in the 4th quarter worth approximately $26,000. Richards Merrill & Peterson Inc. bought a new stake in shares of Philip Morris International in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. lifted its stake in Philip Morris International by 146.5% in the first quarter. Vermillion Wealth Management Inc. now owns 175 shares of the company’s stock valued at $29,000 after purchasing an additional 104 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new position in Philip Morris International in the fourth quarter valued at approximately $29,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on PM. Barclays increased their price objective on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a report on Wednesday, July 29th. BTIG Research set a $221.00 target price on Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Stifel Nicolaus upped their price target on Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Citigroup increased their price target on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus price target of $205.89.

Philip Morris International Trading Up 0.8%

Shares of PM stock opened at $190.40 on Friday. The stock has a market capitalization of $296.76 billion, a P/E ratio of 27.36, a PEG ratio of 2.28 and a beta of 0.38. The firm’s 50 day moving average is $185.23 and its 200 day moving average is $178.00. Philip Morris International Inc. has a 12 month low of $142.11 and a 12 month high of $207.76.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $2.05 by $0.15. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The company had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm earned $1.89 EPS. Philip Morris International’s revenue for the quarter was up 10.4% on a year-over-year basis. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities analysts predict that Philip Morris International Inc. will post 8.33 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, June 25th. Philip Morris International’s dividend payout ratio (DPR) is presently 84.48%.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.