Summit Global Investments Sells 2,816 Shares of Philip Morris International Inc. $PM

Summit Global Investments lessened its position in shares of Philip Morris International Inc. (NYSE:PM) by 34.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,258 shares of the company’s stock after selling 2,816 shares during the period. Summit Global Investments’ holdings in Philip Morris International were worth $951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AG Campbell Advisory LLC purchased a new stake in Philip Morris International in the 4th quarter worth about $25,000. Portfolio Resources Advisor Group Inc. purchased a new stake in Philip Morris International during the fourth quarter valued at about $26,000. Vermillion Wealth Management Inc. boosted its position in Philip Morris International by 146.5% during 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 period. Richards Merrill & Peterson Inc. bought a new position in Philip Morris International during the fourth quarter worth about $28,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in shares of Philip Morris International in the fourth quarter worth about $29,000. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on PM shares. UBS Group upped their price target on shares of Philip Morris International from $168.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. 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 research report on Thursday, July 23rd. Finally, BTIG Research set a $221.00 target price on Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $205.89.

Philip Morris International Stock Up 0.8%

Shares of PM opened at $190.40 on Friday. The business’s 50-day moving average price is $185.23 and its 200-day moving average price is $178.00. Philip Morris International Inc. has a twelve month low of $142.11 and a twelve month high of $207.76. The stock has a market cap of $296.76 billion, a PE ratio of 27.36, a P/E/G ratio of 2.28 and a beta of 0.38.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.15. The firm had revenue of $11.19 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. 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 company also recently declared a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Thursday, June 25th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a 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%.

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.