Canandaigua National Bank & Trust Co. Takes $1.35 Million Position in Philip Morris International Inc. $PM

Canandaigua National Bank & Trust Co. purchased a new stake in shares of Philip Morris International Inc. (NYSE:PM) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 7,439 shares of the company’s stock, valued at approximately $1,346,000.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Philip Morris International by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 145,262,397 shares of the company’s stock worth $23,300,088,000 after purchasing an additional 1,793,949 shares during the last quarter. Capital World Investors raised its stake in shares of Philip Morris International by 2.8% during the 4th quarter. Capital World Investors now owns 132,355,726 shares of the company’s stock valued at $21,230,315,000 after buying an additional 3,579,399 shares during the last quarter. Capital International Investors boosted its stake in shares of Philip Morris International by 13.7% in the fourth quarter. Capital International Investors now owns 101,377,875 shares of the company’s stock worth $16,262,967,000 after buying an additional 12,227,004 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Philip Morris International by 25.3% in the fourth quarter. Capital Research Global Investors now owns 54,559,706 shares of the company’s stock worth $8,751,407,000 after buying an additional 11,013,173 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Philip Morris International by 12.0% during the first quarter. Bank of America Corp DE now owns 17,230,669 shares of the company’s stock worth $2,848,919,000 after acquiring an additional 1,847,421 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PM has been the subject of a number of analyst reports. UBS Group boosted their price target on Philip Morris International from $168.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, July 2nd. BTIG Research set a $221.00 target price on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 24th. Stifel Nicolaus lifted their price target on Philip Morris International from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Bank of America reissued a “buy” rating on shares of Philip Morris International in a report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research note on Wednesday, May 20th. Ten investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $205.89.

Philip Morris International Stock Up 1.2%

NYSE PM opened at $189.24 on Thursday. Philip Morris International Inc. has a 52 week low of $142.11 and a 52 week high of $207.76. The business’s fifty day simple moving average is $183.59 and its 200-day simple moving average is $177.23. The firm has a market cap of $294.95 billion, a PE ratio of 27.19, a P/E/G ratio of 2.26 and a beta of 0.38.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, July 22nd. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.05 by $0.15. The company 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%. Philip Morris International’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share. Philip Morris International has set its Q3 2026 guidance at 2.200-2.25 EPS. Research analysts expect that Philip Morris International Inc. will post 8.33 EPS for the current year.

Philip Morris International Dividend Announcement

The business 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. The ex-dividend date was Thursday, June 25th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.1%. Philip Morris International’s dividend payout ratio (DPR) is currently 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.