Philip Morris International (NYSE:PM) Sets New 1-Year High After Analyst Upgrade

Philip Morris International Inc. (NYSE:PM)’s share price hit a new 52-week high during mid-day trading on Thursday after Citigroup raised their price target on the stock from $163.00 to $180.00. Citigroup currently has a buy rating on the stock. Philip Morris International traded as high as $163.44 and last traded at $163.22, with a volume of 1343462 shares changing hands. The stock had previously closed at $160.48.

A number of other analysts have also recently issued reports on PM. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. Morgan Stanley began coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target for the company. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $160.00 to $168.00 and gave the stock a “buy” rating in a research report on Thursday, April 10th. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Finally, Barclays lifted their target price on shares of Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $150.78.

Insiders Place Their Bets

In other news, insider Lars Dahlgren sold 3,679 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the sale, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This represents a 12.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $149.06, for a total value of $6,058,245.58. Following the completion of the transaction, the chairman now owns 561,349 shares in the company, valued at approximately $83,674,681.94. This trade represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,822 shares of company stock valued at $19,655,585. Insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

A number of institutional investors and hedge funds have recently bought and sold shares of PM. Lloyd Advisory Services LLC. boosted its position in shares of Philip Morris International by 3.3% in the first quarter. Lloyd Advisory Services LLC. now owns 2,032 shares of the company’s stock worth $323,000 after buying an additional 64 shares during the period. Omnia Family Wealth LLC boosted its position in Philip Morris International by 1.7% during the 4th quarter. Omnia Family Wealth LLC now owns 3,851 shares of the company’s stock valued at $469,000 after purchasing an additional 65 shares during the period. Sonora Investment Management Group LLC grew its position in Philip Morris International by 0.6% in the 1st quarter. Sonora Investment Management Group LLC now owns 11,240 shares of the company’s stock worth $1,784,000 after purchasing an additional 68 shares during the last quarter. Meridian Wealth Partners LLC grew its stake in shares of Philip Morris International by 4.1% in the fourth quarter. Meridian Wealth Partners LLC now owns 1,781 shares of the company’s stock worth $214,000 after purchasing an additional 70 shares in the last quarter. Finally, NewSquare Capital LLC increased its stake in Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Price Performance

The stock has a market capitalization of $254.05 billion, a price-to-earnings ratio of 36.18, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. The business has a fifty day moving average of $153.17 and a 200-day moving average of $135.34.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. As a group, research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were given a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a yield of 3.31%. Philip Morris International’s payout ratio is 119.73%.

Philip Morris International Company Profile

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.