Glenview Trust Co Buys New Holdings in Philip Morris International Inc. $PM

Key Points

• Glenview Trust Co. acquired 75,762 shares of Philip Morris International during the second quarter, valued at approximately $13.7 million. Institutional investors collectively own 78.63% of the company.
• Analyst sentiment remains positive, with 10 analysts rating PM a Buy and two issuing Holds. The stock has a consensus price target of $205.89, including recent target increases from Barclays and Stifel Nicolaus.
• Philip Morris exceeded quarterly expectations with $2.20 in EPS and $11.19 billion in revenue, while revenue rose 10.4% year over year. The company also pays a $1.47 quarterly dividend, representing a 3.1% yield.

Glenview Trust Co bought a new position in Philip Morris International Inc. (NYSE:PM - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 75,762 shares of the company's stock, valued at approximately $13,706,000.

Other hedge funds also recently made changes to their positions in the company. AG Campbell Advisory LLC bought a new position in shares of Philip Morris International during the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Philip Morris International in the second quarter worth about $29,000. Portfolio Resources Advisor Group Inc. bought a new stake in shares of Philip Morris International in the fourth quarter worth about $26,000. Vermillion Wealth Management Inc. grew its stake 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 purchasing an additional 104 shares during the last quarter. Finally, Safe Harbor Fiduciary LLC purchased a new position in Philip Morris International during the 4th quarter valued at about $29,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on PM. Barclays upped their target price on Philip Morris International from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Wednesday, July 29th. Bank of America reiterated a "buy" rating on shares of Philip Morris International in a report on Thursday, May 21st. Weiss Ratings restated a "buy (b)" rating on shares of Philip Morris International in a report on Monday, August 17th. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Stifel Nicolaus raised 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 issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $205.89.

Philip Morris International Price Performance

Shares of NYSE PM opened at $190.52 on Friday. Philip Morris International Inc. has a 1 year low of $142.11 and a 1 year high of $207.76. The firm has a 50-day moving average of $186.94 and a 200 day moving average of $178.69. The stock has a market cap of $296.94 billion, a P/E ratio of 27.37, a price-to-earnings-growth ratio of 2.34 and a beta of 0.38.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.05 by $0.15. The business had revenue of $11.19 billion during the quarter, compared to analysts' expectations of $10.60 billion. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.The firm's quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter 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. Research analysts expect that Philip Morris International Inc. will post 8.33 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Thursday, June 25th. Philip Morris International's dividend payout ratio (DPR) is presently 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.

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