Bank of America Corp DE Takes Position in Philip Morris International Inc. $PM

Bank of America Corp DE purchased a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,998,878 shares of the company's stock, valued at approximately $3,075,267,000. Bank of America Corp DE owned approximately 1.09% of Philip Morris International at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Magnolia Capital Advisors LLC bought a new position in Philip Morris International in the 2nd quarter worth approximately $225,000. Wallace Capital Management Inc. bought a new position in Philip Morris International in the 2nd quarter valued at $1,020,000. Freestone Grove Partners LP acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at $61,256,000. Gallagher Fiduciary Advisors LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter valued at $667,000. Finally, Pointe Capital Management LLC acquired a new stake in Philip Morris International in the second quarter worth about $352,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PM. Morgan Stanley raised their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Stifel Nicolaus boosted their price target on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, July 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Philip Morris International in a report on Monday, August 17th. Bank of America reaffirmed a "buy" rating on shares of Philip Morris International in a research note on Thursday, May 21st. Finally, BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the stock a "buy" rating in a report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $205.89.

Philip Morris International Stock Up 2.0%

Shares of PM stock opened at $194.96 on Tuesday. Philip Morris International Inc. has a 12-month low of $142.11 and a 12-month high of $207.76. The firm has a fifty day moving average of $188.77 and a 200-day moving average of $178.90. The company has a market capitalization of $303.87 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 2.43 and a beta of 0.37.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $10.60 billion. During the same period in the previous year, the company posted $1.89 earnings per share. The company's quarterly revenue was up 10.4% compared to the same quarter last year. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities analysts expect that Philip Morris International Inc. will post 8.48 EPS for the current year.

Philip Morris International Profile

Philip Morris International Inc is a global tobacco and nicotine company headquartered in Stamford, Connecticut. The company develops, manufactures and markets cigarettes, smoke-free products, nicotine products and related consumer offerings in markets around the world.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M and Chesterfield. PMI is also expanding beyond traditional cigarettes through heated-tobacco products, including IQOS, e-vapor products such as VEEV, and oral nicotine products including ZYN, which became part of the company's portfolio following its acquisition of Swedish Match.

Philip Morris International was established as an independent company in 2008 after being separated from Altria Group, whose U.S.

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