Summit Global Investments Trims Stake in Philip Morris International Inc. $PM

Summit Global Investments reduced its holdings in Philip Morris International Inc. (NYSE:PM) by 34.9% during the second quarter, Holdings Channel.com reports. The fund owned 5,258 shares of the company’s stock after selling 2,816 shares during the quarter. 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 have also recently modified their holdings of the company. Resurgent Financial Advisors LLC grew its holdings in shares of Philip Morris International by 3.7% during the fourth quarter. Resurgent Financial Advisors LLC now owns 1,523 shares of the company’s stock worth $244,000 after purchasing an additional 54 shares in the last quarter. Douglass Winthrop Advisors LLC increased its position in shares of Philip Morris International by 0.3% in the fourth quarter. Douglass Winthrop Advisors LLC now owns 18,344 shares of the company’s stock worth $2,942,000 after purchasing an additional 56 shares during the last quarter. Outlook Wealth Advisors LLC raised its stake in Philip Morris International by 4.6% in the fourth quarter. Outlook Wealth Advisors LLC now owns 1,320 shares of the company’s stock valued at $212,000 after purchasing an additional 58 shares in the last quarter. Platt Wealth Management LLC raised its stake in Philip Morris International by 2.1% in the second quarter. Platt Wealth Management LLC now owns 2,833 shares of the company’s stock valued at $512,000 after purchasing an additional 58 shares in the last quarter. Finally, Aristotle Capital Management LLC lifted its position in Philip Morris International by 4.4% during the fourth quarter. Aristotle Capital Management LLC now owns 1,384 shares of the company’s stock valued at $222,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 0.8%

Shares of NYSE:PM opened at $190.40 on Friday. The stock has a market capitalization of $296.76 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 2.28 and a beta of 0.38. The stock’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 12-month low of $142.11 and a 12-month high of $207.76.

Philip Morris International (NYSE:PM) last released its earnings results on Wednesday, July 22nd. The company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.15. The company had revenue of $11.19 billion during the quarter, compared to analyst estimates of $10.60 billion. Philip Morris International had a negative return on equity of 163.41% and a net margin of 11.06%.Philip Morris International’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.89 EPS. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. As a group, research analysts predict that Philip Morris International Inc. will post 8.33 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 20th. Shareholders of record on Thursday, June 25th were given a $1.47 dividend. The ex-dividend date was Thursday, June 25th. This represents a $5.88 annualized dividend and a yield of 3.1%. Philip Morris International’s payout ratio is presently 84.48%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group boosted their price target on shares of Philip Morris International from $168.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. BTIG Research set a $221.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 24th. Needham & Company LLC lifted 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. Barclays lifted their price objective on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Wednesday, July 29th. Finally, Stifel Nicolaus upped 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 equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $205.89.

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.