Cibc World Market Inc. Invests $70.49 Million in Philip Morris International Inc. $PM

Cibc World Market Inc. acquired a new stake in shares of Philip Morris International Inc. (NYSE:PM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 389,623 shares of the company’s stock, valued at approximately $70,487,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AG Campbell Advisory LLC purchased a new stake in shares of Philip Morris International in the 4th quarter valued at about $25,000. Portfolio Resources Advisor Group Inc. bought a new stake in shares of Philip Morris International during the 4th quarter valued at about $26,000. Vermillion Wealth Management Inc. grew its holdings in shares of 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 in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Philip Morris International during the second quarter worth about $29,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of Philip Morris International in the fourth quarter worth approximately $29,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the company a “buy” rating in a research note on Friday, July 24th. Needham & Company LLC boosted their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Morgan Stanley increased their price target on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Bank of America restated a “buy” rating on shares of Philip Morris International in a research report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Monday, August 17th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.89.

Philip Morris International Trading Down 0.0%

PM opened at $188.14 on Monday. The stock has a market capitalization of $293.24 billion, a P/E ratio of 27.03, a PEG ratio of 2.27 and a beta of 0.38. The stock has a 50-day moving average price of $186.03 and a 200-day moving average price of $178.35. 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 announced its quarterly earnings data 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 for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the firm posted $1.89 EPS. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. On average, equities research 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. Shareholders of record on Thursday, June 25th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Thursday, June 25th. Philip Morris International’s dividend payout ratio (DPR) is presently 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.