Noble Wealth Partners LLC purchased a new position in Philip Morris International Inc. (NYSE:PM – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,920 shares of the company’s stock, valued at approximately $890,000.
A number of other hedge funds have also recently made changes to their positions in PM. Bank of New York Mellon Corp increased its position in shares of Philip Morris International by 30.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after acquiring an additional 2,755,662 shares during the period. Global Retirement Partners LLC lifted its position in Philip Morris International by 40.3% during the 4th quarter. Global Retirement Partners LLC now owns 67,177 shares of the company’s stock worth $10,775,000 after acquiring an additional 19,309 shares during the period. Perennial Investment Advisors LLC acquired a new stake in Philip Morris International during the 2nd quarter worth about $505,000. New York Life Investment Management LLC grew its stake in Philip Morris International by 3.6% during the 4th quarter. New York Life Investment Management LLC now owns 216,613 shares of the company’s stock valued at $34,745,000 after purchasing an additional 7,600 shares during the last quarter. Finally, Addison Capital Co grew its stake in Philip Morris International by 32.5% during the 1st quarter. Addison Capital Co now owns 31,779 shares of the company’s stock valued at $5,254,000 after purchasing an additional 7,793 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently issued reports on PM shares. Bank of America restated a “buy” rating on shares of Philip Morris International in a research note on Thursday, May 21st. Barclays increased their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. UBS Group lifted their price objective on shares of Philip Morris International from $168.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Citigroup upped their price objective on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Needham & Company LLC increased their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.89.
Philip Morris International Stock Down 2.0%
Shares of PM stock opened at $182.36 on Friday. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $207.76. The stock has a market cap of $284.23 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.36 and a beta of 0.37. The business has a 50-day simple moving average of $188.02 and a 200-day simple moving average of $178.82.
Philip Morris International (NYSE:PM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.15. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.The company had revenue of $11.19 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period last year, the business earned $1.89 earnings per share. Philip Morris International’s quarterly revenue 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. Sell-side analysts anticipate that Philip Morris International Inc. will post 8.33 earnings per share for the current fiscal year.
Philip Morris International Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, June 25th. Philip Morris International’s payout ratio is 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.
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