Advisors Capital Management LLC Buys New Holdings in Philip Morris International Inc. $PM

Key Points

• Advisors Capital Management purchased 674,460 shares of Philip Morris International during the second quarter, valued at approximately $122 million and representing about 1.3% of its portfolio. Institutional investors collectively own 78.63% of PM’s shares.
• Philip Morris reported quarterly earnings of $2.20 per share on $11.19 billion in revenue, exceeding analyst expectations, while revenue grew 10.4% year over year. The company guided for third-quarter EPS of $2.20–$2.25.
• PM pays a quarterly dividend of $1.47 per share, equivalent to a 3.1% yield. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $205.89.

Advisors Capital Management LLC purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 674,460 shares of the company's stock, valued at approximately $122,017,000. Philip Morris International makes up about 1.3% of Advisors Capital Management LLC's holdings, making the stock its 16th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PM. Cannon Wealth Management Services LLC acquired a new stake in Philip Morris International in the 2nd quarter valued at about $357,000. MJP Associates Inc. ADV acquired a new position in Philip Morris International during the second quarter worth about $926,000. PCM Encore LLC purchased a new stake in shares of Philip Morris International in the second quarter valued at about $1,588,000. Vise Technologies Inc. purchased a new stake in shares of Philip Morris International in the second quarter valued at about $26,086,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Philip Morris International in the second quarter valued at approximately $226,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Stock Up 1.0%

Philip Morris International stock opened at $191.85 on Friday. The firm has a fifty day moving average of $185.96 and a 200-day moving average of $178.30. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $207.76. The firm has a market capitalization of $299.02 billion, a P/E ratio of 27.56, a PEG ratio of 2.29 and a beta of 0.38.

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, topping analysts' consensus estimates of $2.05 by $0.15. The firm had revenue of $11.19 billion during the quarter, compared to analysts' expectations of $10.60 billion. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The firm's revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.89 EPS. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, research analysts expect that Philip Morris International Inc. will post 8.33 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Investors of record on Thursday, June 25th were paid a dividend of $1.47 per share. 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 dividend payout ratio is 84.48%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PM. Bank of America reiterated a "buy" rating on shares of Philip Morris International in a report on Thursday, May 21st. Citigroup upped their price objective on Philip Morris International from $210.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. BTIG Research set a $221.00 price objective on Philip Morris International and gave the company a "buy" rating in a research note on Friday, July 24th. Needham & Company LLC boosted their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company a "buy" rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley upped their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.89.

Philip Morris International Profile

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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