Philip Morris International (NYSE:PM) Price Target Lowered to $185.00 at JPMorgan Chase & Co.

Philip Morris International (NYSE:PM) had its target price trimmed by JPMorgan Chase & Co. from $190.00 to $185.00 in a report released on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

PM has been the topic of a number of other research reports. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, November 17th. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. KGI Securities assumed coverage on shares of Philip Morris International in a research note on Monday, August 4th. They issued an “outperform” rating for the company. Finally, Barclays reduced their target price on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Monday, November 17th. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Trading Down 0.5%

Shares of NYSE:PM opened at $156.66 on Wednesday. The stock has a 50 day moving average of $155.90 and a 200 day moving average of $166.93. The company has a market cap of $243.87 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 1.86 and a beta of 0.43. Philip Morris International has a 12-month low of $116.12 and a 12-month high of $186.69.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business had revenue of $8.12 billion during the quarter. Equities research analysts predict that Philip Morris International will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. This is a boost from Philip Morris International’s previous quarterly dividend of $1.35. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, October 3rd. Philip Morris International’s payout ratio is presently 106.52%.

Institutional Investors Weigh In On Philip Morris International

Several hedge funds have recently modified their holdings of the business. WCM Investment Management LLC increased its position in Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock valued at $2,041,223,000 after buying an additional 11,230,626 shares in the last quarter. Nuveen LLC acquired a new position in shares of Philip Morris International during the first quarter valued at about $1,712,994,000. Wellington Management Group LLP increased its holdings in shares of Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock valued at $3,466,730,000 after acquiring an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Philip Morris International by 57.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares during the last quarter. Finally, Capital Research Global Investors grew its position in Philip Morris International by 7.2% during the 3rd quarter. Capital Research Global Investors now owns 43,546,533 shares of the company’s stock worth $7,063,263,000 after purchasing an additional 2,911,835 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.