Envestnet Asset Management Inc. Has $1.12 Billion Holdings in Philip Morris International Inc. $PM

Key Points

• Envestnet Asset Management increased its Philip Morris position by 4.8% in the second quarter, bringing its holdings to 6.22 million shares valued at approximately $1.12 billion. Institutional investors collectively own 78.63% of the company.
• Philip Morris reported quarterly earnings of $2.20 per share, exceeding estimates of $2.05, while revenue rose 10.4% year over year to $11.19 billion. Shares recently traded at $190.61.
• The company raised its quarterly dividend from $1.47 to $1.60 per share, equivalent to a 3.4% annual yield. Analysts maintain a “Moderate Buy” consensus, with an average price target of $207.

Envestnet Asset Management Inc. lifted its position in Philip Morris International Inc. (NYSE:PM - Free Report) by 4.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,216,401 shares of the company's stock after purchasing an additional 285,703 shares during the quarter. Envestnet Asset Management Inc. owned 0.40% of Philip Morris International worth $1,124,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Philip Morris International by 1.0% in the 2nd quarter. State Street Corp now owns 55,569,994 shares of the company's stock valued at $10,134,454,000 after buying an additional 536,968 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in shares of Philip Morris International during the 2nd quarter worth about $55,000. Bouchey Financial Group Ltd. boosted its position in shares of Philip Morris International by 3.5% during the 2nd quarter. Bouchey Financial Group Ltd. now owns 7,746 shares of the company's stock valued at $1,406,000 after acquiring an additional 264 shares in the last quarter. Van Hulzen Asset Management LLC boosted its position in shares of Philip Morris International by 4.6% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 5,690 shares of the company's stock valued at $1,029,000 after acquiring an additional 248 shares in the last quarter. Finally, MCF Advisors LLC increased its stake in Philip Morris International by 8.6% in the second quarter. MCF Advisors LLC now owns 5,704 shares of the company's stock valued at $1,038,000 after acquiring an additional 451 shares during the period. 78.63% of the stock is owned by institutional investors.

Philip Morris International Trading Up 0.2%

Shares of Philip Morris International stock traded up $0.38 during mid-day trading on Wednesday, reaching $190.61. 7,288,656 shares of the stock were exchanged, compared to its average volume of 5,041,477. The company has a market cap of $297.09 billion, a price-to-earnings ratio of 27.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.37. The firm has a 50-day simple moving average of $189.73 and a 200 day simple moving average of $179.17. Philip Morris International Inc. has a fifty-two week low of $142.11 and a fifty-two week high of $207.76.

Philip Morris International (NYSE:PM - Get Free Report) last released 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. The firm had revenue of $11.19 billion for 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%. The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, research analysts predict that Philip Morris International Inc. will post 8.44 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 26th. Investors of record on Friday, October 2nd will be given a dividend of $1.60 per share. This is a boost from Philip Morris International's previous quarterly dividend of $1.47. The ex-dividend date is Friday, October 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 3.4%. Philip Morris International's dividend payout ratio is currently 84.48%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PM shares. 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. Stifel Nicolaus lifted their price objective on Philip Morris International from $195.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, July 23rd. 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 note on Thursday, July 30th. Needham & Company LLC increased their target price on Philip Morris International from $200.00 to $215.00 and gave the stock a "buy" rating in a report on Thursday, July 23rd. Finally, Barclays raised their target price on Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Philip Morris International presently has an average rating of "Moderate Buy" and a consensus price target of $207.00.

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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