Bank of New York Mellon Corp Buys 2,755,662 Shares of Philip Morris International Inc. $PM

Bank of New York Mellon Corp increased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 30.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,669,878 shares of the company's stock after purchasing an additional 2,755,662 shares during the quarter. Bank of New York Mellon Corp owned about 0.75% of Philip Morris International worth $2,111,198,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. AG Campbell Advisory LLC bought a new position in Philip Morris International in the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Philip Morris International during the second quarter valued at $29,000. Portfolio Resources Advisor Group Inc. acquired a new position in shares of Philip Morris International during the fourth quarter valued at $26,000. Vermillion Wealth Management Inc. boosted its holdings 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 acquiring an additional 104 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new position in Philip Morris International in the fourth quarter valued at about $29,000. Institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

Shares of PM stock opened at $191.85 on Friday. The stock has a market cap of $299.02 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 2.29 and a beta of 0.38. The stock has a 50-day moving average of $185.96 and a 200-day moving average of $178.30. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $207.76.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $2.05 by $0.15. The firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.89 earnings per share. 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 company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 3.1%. Philip Morris International's dividend payout ratio is currently 84.48%.

Wall Street Analyst Weigh In

A number of analysts recently commented on PM shares. Morgan Stanley boosted their price objective on Philip Morris International from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Thursday, July 23rd. Citigroup raised their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, July 30th. BTIG Research set a $221.00 price target on shares of Philip Morris International and gave the stock a "buy" rating in a research report on Friday, July 24th. UBS Group boosted their price target on shares of Philip Morris International from $168.00 to $182.00 and gave the stock a "neutral" rating in a research note on Thursday, July 2nd. Finally, Needham & Company LLC increased their price objective on shares of Philip Morris International from $200.00 to $215.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Philip Morris International 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.

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