Chesley Taft & Associates LLC Lowers Position in Philip Morris International Inc. $PM

Key Points

• Chesley Taft & Associates cut its Philip Morris International stake by 56.7% in the second quarter, selling 6,113 shares and retaining 4,675 shares valued at approximately $846,000.
• Wall Street remains broadly positive on PM, with 10 analysts issuing Buy ratings and a consensus price target of $205.89, compared with the stock’s reported price of $189.65.
• Philip Morris posted stronger-than-expected quarterly results, with EPS of $2.20 and revenue of $11.19 billion, while revenue grew 10.4% year over year. The company also pays a $1.47 quarterly dividend, representing a 3.1% annualized yield.

Chesley Taft & Associates LLC decreased its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 56.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,675 shares of the company's stock after selling 6,113 shares during the period. Chesley Taft & Associates LLC's holdings in Philip Morris International were worth $846,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PM. AG Campbell Advisory LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at $25,000. Portfolio Resources Advisor Group Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter worth $26,000. Richards Merrill & Peterson Inc. acquired a new stake in shares of Philip Morris International during the 4th quarter worth $28,000. Vermillion Wealth Management Inc. raised its position in shares of Philip Morris International by 146.5% in the 1st quarter. Vermillion Wealth Management Inc. now owns 175 shares of the company's stock worth $29,000 after buying an additional 104 shares during the period. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of Philip Morris International in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PM. Morgan Stanley boosted their price target on Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Thursday, July 23rd. Needham & Company LLC raised their price objective on Philip Morris International from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. 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. Citigroup boosted their target price on Philip Morris International from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Stifel Nicolaus increased their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, July 23rd. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.89.

Philip Morris International Trading Up 0.8%

NYSE:PM opened at $189.65 on Friday. The firm's fifty day simple moving average is $184.01 and its 200 day simple moving average is $177.42. Philip Morris International Inc. has a twelve month low of $142.11 and a twelve month high of $207.76. The firm has a market capitalization of $295.58 billion, a price-to-earnings ratio of 27.25, 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 (EPS) 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 firm had revenue of $11.19 billion during the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the firm earned $1.89 EPS. The firm'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, analysts predict 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. Stockholders of record on Thursday, June 25th were paid 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 (DPR) is 84.48%.

Philip Morris International Company 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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source