Cornerstone Advisors LLC Cuts Stake in Philip Morris International Inc. $PM

Key Points

• Cornerstone Advisors LLC reduced its Philip Morris stake by 13.9% in the second quarter, selling 24,514 shares and retaining 152,329 shares worth approximately $27.6 million. Institutional investors collectively own 78.63% of PM.
• Philip Morris reported stronger-than-expected quarterly results, with earnings of $2.20 per share and revenue of $11.19 billion, representing 10.4% year-over-year growth. The company issued third-quarter 2026 EPS guidance of $2.20–$2.25.
• The company pays a quarterly dividend of $1.47, equivalent to an annualized $5.88 dividend and a 3.1% yield. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $205.89.

Cornerstone Advisors LLC lowered its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 13.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 152,329 shares of the company's stock after selling 24,514 shares during the period. Philip Morris International comprises about 0.9% of Cornerstone Advisors LLC's investment portfolio, making the stock its 25th biggest position. Cornerstone Advisors LLC's holdings in Philip Morris International were worth $27,558,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PM. AG Campbell Advisory LLC purchased a new stake in Philip Morris International during the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Philip Morris International during the second quarter valued at about $29,000. Portfolio Resources Advisor Group Inc. purchased a new position in shares of Philip Morris International in the fourth quarter worth about $26,000. Vermillion Wealth Management Inc. increased its holdings in shares of Philip Morris International by 146.5% in the first 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, Richards Merrill & Peterson Inc. bought a new stake in shares of Philip Morris International in the 4th quarter valued at about $28,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 1.8%

PM stock opened at $187.77 on Wednesday. The stock has a market capitalization of $292.66 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 2.30 and a beta of 0.38. The firm's 50-day moving average price is $185.60 and its two-hundred day moving average price is $178.12. Philip Morris International Inc. has a 12-month low of $142.11 and a 12-month high of $207.76.

Philip Morris International (NYSE:PM - Get Free Report) last posted its 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 company had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.60 billion. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. Philip Morris International's revenue for the quarter was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Equities analysts predict that Philip Morris International Inc. will post 8.33 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Thursday, June 25th were issued a $1.47 dividend. 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 (DPR) is 84.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PM shares. Morgan Stanley increased their target price on Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Bank of America reaffirmed a "buy" rating on shares of Philip Morris International in a research note on Thursday, May 21st. Citigroup boosted 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. Barclays increased their price objective on Philip Morris International from $205.00 to $225.00 and gave the company an "overweight" rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Philip Morris International in a report on Wednesday, May 20th. Ten analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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