HighTower Advisors LLC Purchases 9,240 Shares of Philip Morris International Inc. $PM

Key Points

• HighTower Advisors increased its Philip Morris International stake by 1% in the second quarter, purchasing 9,240 shares and bringing its holdings to 980,986 shares valued at approximately $177.5 million.
• Wall Street remains broadly positive on PM, with 10 analysts rating it a Buy and two a Hold. The stock has an average price target of $205.89, above its reported opening price of $182.36.
• Philip Morris beat quarterly expectations with $2.20 in EPS and $11.19 billion in revenue, while revenue grew 10.4% year over year. The company also pays a $1.47 quarterly dividend, implying a 3.2% yield.

HighTower Advisors LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 980,986 shares of the company's stock after purchasing an additional 9,240 shares during the quarter. HighTower Advisors LLC owned about 0.06% of Philip Morris International worth $177,470,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in PM. AG Campbell Advisory LLC purchased a new position in shares of Philip Morris International in the fourth quarter worth $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Philip Morris International during the second quarter valued at $29,000. Portfolio Resources Advisor Group Inc. bought a new stake in Philip Morris International in the 4th quarter valued at $26,000. Vermillion Wealth Management Inc. increased its holdings in Philip Morris International by 146.5% in the 1st 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 purchased a new stake in Philip Morris International in the 4th quarter worth $29,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PM. Bank of America reiterated a "buy" rating on shares of Philip Morris International in a research report on Thursday, May 21st. Morgan Stanley upped their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Barclays increased their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the company an "overweight" rating in a research report on Wednesday, July 29th. Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a research note on Monday, August 17th. Finally, Stifel Nicolaus boosted their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the stock a "buy" rating in a 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 company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $205.89.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $182.36 on Monday. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $207.76. The firm has a market capitalization of $284.23 billion, a price-to-earnings ratio of 26.20, a PEG ratio of 2.36 and a beta of 0.37. The stock has a 50 day moving average price of $188.02 and a 200 day moving average price of $178.76.

Philip Morris International (NYSE:PM - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.15. The company had revenue of $11.19 billion for the quarter, compared to analysts' expectations of $10.60 billion. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The firm's quarterly revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.89 EPS. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Analysts forecast that Philip Morris International Inc. will post 8.33 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, June 25th. Philip Morris International's dividend payout ratio is currently 84.48%.

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.

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.