Manhattan West Asset Management LLC Takes Position in Philip Morris International Inc. $PM

Key Points

• Manhattan West Asset Management acquired 31,676 shares of Philip Morris International worth approximately $5.7 million, making PM about 1% of its portfolio. Institutional investors and hedge funds collectively own 78.63% of the company.
• Analysts remain broadly bullish: ten rate PM a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of $205.89. Several firms recently raised their targets to $215–$225.
• Philip Morris exceeded quarterly expectations with $2.20 EPS and $11.19 billion in revenue, up 10.4% year over year. The company also pays a quarterly dividend of $1.47 per share, equivalent to a 3.1% yield.

Manhattan West Asset Management LLC acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 31,676 shares of the company's stock, valued at approximately $5,731,000. Philip Morris International comprises approximately 1.0% of Manhattan West Asset Management LLC's portfolio, making the stock its 23rd biggest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after purchasing an additional 2,023 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company's stock worth $252,000 after buying an additional 91 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Philip Morris International by 53.7% in the second quarter. Sivia Capital Partners LLC now owns 5,636 shares of the company's stock valued at $1,027,000 after purchasing an additional 1,970 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Philip Morris International in the second quarter worth $2,454,000. Finally, Osterweis Capital Management Inc. raised its stake in shares of Philip Morris International by 2,280.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 357 shares of the company's stock valued at $65,000 after purchasing an additional 342 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on PM. UBS Group lifted their price objective on shares of Philip Morris International from $168.00 to $182.00 and gave the stock a "neutral" rating in a report on Thursday, July 2nd. BTIG Research set a $221.00 target price on Philip Morris International and gave the company a "buy" rating in a research note on Friday, July 24th. Morgan Stanley upped their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Thursday, July 23rd. Barclays raised their target price 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, Citigroup upped their price target on Philip Morris International from $210.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Ten research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to 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

NYSE PM opened at $188.14 on Friday. The company has a 50 day simple moving average of $186.03 and a 200-day simple moving average of $178.36. 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 $293.24 billion, a price-to-earnings ratio of 27.03, a price-to-earnings-growth ratio of 2.31 and a beta of 0.38.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly 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. Philip Morris International had a net margin of 11.06% and a negative return on equity of 163.41%. The business had revenue of $11.19 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period in the prior year, the business posted $1.89 earnings per share. Philip Morris International's revenue for the quarter 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 EPS for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were paid a dividend of $1.47 per share. The ex-dividend date was Thursday, June 25th. This represents a $5.88 annualized dividend and a dividend yield of 3.1%. Philip Morris International's dividend payout ratio is 84.48%.

Philip Morris International 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.

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