Pinnacle Associates Ltd. Buys 3,991 Shares of Philip Morris International Inc. $PM

Pinnacle Associates Ltd. grew its stake in shares of Philip Morris International Inc. (NYSE:PM) by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,844 shares of the company’s stock after buying an additional 3,991 shares during the period. Pinnacle Associates Ltd.’s holdings in Philip Morris International were worth $12,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital International Investors grew its stake in Philip Morris International by 13.7% during the fourth quarter. Capital International Investors now owns 101,377,875 shares of the company’s stock valued at $16,262,967,000 after acquiring an additional 12,227,004 shares in the last quarter. Capital Research Global Investors increased its holdings in Philip Morris International by 25.3% during the 4th quarter. Capital Research Global Investors now owns 54,559,706 shares of the company’s stock worth $8,751,407,000 after acquiring an additional 11,013,173 shares during the period. Capital World Investors lifted its stake in Philip Morris International by 2.8% in the 4th quarter. Capital World Investors now owns 132,355,726 shares of the company’s stock worth $21,230,315,000 after purchasing an additional 3,579,399 shares in the last quarter. Bank of America Corp DE lifted its stake in Philip Morris International by 12.0% in the 1st quarter. Bank of America Corp DE now owns 17,230,669 shares of the company’s stock worth $2,848,919,000 after purchasing an additional 1,847,421 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Philip Morris International by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 145,262,397 shares of the company’s stock valued at $23,300,088,000 after purchasing an additional 1,793,949 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $190.40 on Friday. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $207.76. The firm has a market cap of $296.76 billion, a PE ratio of 27.36, a PEG ratio of 2.28 and a beta of 0.38. The company has a 50 day simple moving average of $185.23 and a two-hundred day simple moving average of $178.00.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.15. The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.60 billion. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 EPS. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. As a group, research analysts anticipate that Philip Morris International Inc. will post 8.33 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 25th were given a $1.47 dividend. The ex-dividend date was Thursday, June 25th. This represents a $5.88 annualized dividend and a yield of 3.1%. Philip Morris International’s payout ratio is 84.48%.

Analyst Ratings Changes

A number of research analysts have recently commented on PM shares. Barclays boosted their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research report on Wednesday, July 29th. Citigroup increased their price objective on Philip Morris International from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley lifted their price objective on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Bank of America restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Finally, UBS Group upped their target price on Philip Morris International from $168.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.89.

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.