NewEdge Wealth LLC Makes New Investment in Philip Morris International Inc. $PM

Key Points

• NewEdge Wealth acquired 60,585 shares of Philip Morris International during the second quarter, valued at approximately $10.96 million. Institutional investors collectively own 78.63% of the company.
• Philip Morris reported stronger-than-expected quarterly results, with EPS of $2.20 versus the $2.05 consensus estimate and revenue of $11.19 billion, up 10.4% year over year.
• Analysts remain broadly bullish, with an average “Moderate Buy” rating and a $205.89 price target. Philip Morris also pays a quarterly dividend of $1.47 per share, equating to a 3.1% yield.

NewEdge Wealth LLC bought a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 60,585 shares of the company's stock, valued at approximately $10,960,000.

Several other hedge funds have also made changes to their positions in the company. Global Retirement Partners LLC increased its stake in Philip Morris International by 40.3% during the fourth quarter. Global Retirement Partners LLC now owns 67,177 shares of the company's stock worth $10,775,000 after acquiring an additional 19,309 shares during the last quarter. New York Life Investment Management LLC lifted its stake in shares of Philip Morris International by 3.6% in the 4th quarter. New York Life Investment Management LLC now owns 216,613 shares of the company's stock valued at $34,745,000 after purchasing an additional 7,600 shares during the last quarter. Brighton Jones LLC lifted its stake 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 valued at $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Addison Capital Co grew its holdings in shares of Philip Morris International by 32.5% during the 1st quarter. Addison Capital Co now owns 31,779 shares of the company's stock worth $5,254,000 after purchasing an additional 7,793 shares during the period. Finally, Orographic Financial Advisors LLC purchased a new position in shares of Philip Morris International during the 1st quarter worth $1,205,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 1.3%

Shares of NYSE PM opened at $190.02 on Thursday. The stock has a market capitalization of $296.16 billion, a PE ratio of 27.30, a PEG ratio of 2.27 and a beta of 0.38. Philip Morris International Inc. has a twelve month low of $142.11 and a twelve month high of $207.76. The stock has a fifty day simple moving average of $185.74 and a 200-day simple moving average of $178.21.

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 (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.15. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.The firm had revenue of $11.19 billion for the quarter, compared to analyst estimates of $10.60 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Philip Morris International's revenue was up 10.4% on a year-over-year basis. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities analysts predict 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 declared a quarterly dividend, which was paid on Monday, July 20th. Stockholders of record on Thursday, June 25th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend 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 is currently 84.48%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America restated a "buy" rating on shares of Philip Morris International in a report on Thursday, May 21st. Barclays increased their target price on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 29th. Citigroup lifted their price target on shares of Philip Morris International from $210.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Morgan Stanley boosted 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. Finally, Needham & Company LLC upped their price objective on shares of Philip Morris International from $200.00 to $215.00 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 given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $205.89.

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.

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