Philip Morris International (NYSE:PM) Sets New 52-Week High on Analyst Upgrade

Philip Morris International Inc. (NYSE:PM) reached a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $125.00 to $145.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Philip Morris International traded as high as $132.45 and last traded at $132.45, with a volume of 122916 shares traded. The stock had previously closed at $131.41.

A number of other equities analysts have also recently issued reports on PM. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Barclays lifted their target price on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Citigroup lifted their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.85.

Insider Transactions at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Werner Barth sold 7,500 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 0.00 % 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 101,918 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,418 shares of company stock worth $15,247,052. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Brookstone Capital Management increased its stake in Philip Morris International by 5.4% in the 1st quarter. Brookstone Capital Management now owns 28,607 shares of the company’s stock worth $2,621,000 after acquiring an additional 1,466 shares during the last quarter. Wealthcare Advisory Partners LLC raised its position in Philip Morris International by 8.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 10,522 shares of the company’s stock valued at $964,000 after purchasing an additional 848 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Philip Morris International by 3.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 226,472 shares of the company’s stock worth $20,749,000 after buying an additional 7,667 shares during the period. Coston McIsaac & Partners grew its holdings in Philip Morris International by 3.1% during the 1st quarter. Coston McIsaac & Partners now owns 44,745 shares of the company’s stock worth $4,099,000 after acquiring an additional 1,351 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its holdings in Philip Morris International by 3.3% during the first quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 50,890 shares of the company’s stock valued at $4,663,000 after buying an additional 1,644 shares during the period. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Stock Performance

The firm has a market capitalization of $201.87 billion, a PE ratio of 25.36, a P/E/G ratio of 2.57 and a beta of 0.55. The stock has a fifty day moving average price of $122.26 and a 200-day moving average price of $109.44.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 117.94% and a net margin of 12.10%. The firm had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.68 billion. During the same quarter in the prior year, the business posted $1.67 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. Research analysts expect that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date was Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.16%. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

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.