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

Philip Morris International Inc. (NYSE:PM) shares hit a new 52-week high during mid-day trading on Monday after UBS Group raised their price target on the stock from $95.00 to $105.00. UBS Group currently has a sell rating on the stock. Philip Morris International traded as high as $127.53 and last traded at $127.50, with a volume of 1043114 shares changing hands. The stock had previously closed at $125.81.

Several other research firms also recently weighed in on PM. 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. Deutsche Bank Aktiengesellschaft lifted their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Bank of America lifted their target price on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus lifted their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $117.05.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Philip Morris International

Several institutional investors have recently added to or reduced their stakes in the business. Longfellow Investment Management Co. LLC lifted its stake in Philip Morris International by 0.7% in the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after buying an additional 88 shares during the last quarter. Dearborn Partners LLC lifted its stake in Philip Morris International by 3.2% in the second quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after buying an additional 89 shares during the last quarter. LRI Investments LLC lifted its stake in Philip Morris International by 1.5% in the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock valued at $637,000 after buying an additional 92 shares during the last quarter. Cahill Financial Advisors Inc. lifted its stake in Philip Morris International by 4.5% in the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock valued at $232,000 after buying an additional 99 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its stake in Philip Morris International by 0.3% in the second quarter. Pekin Hardy Strauss Inc. now owns 28,913 shares of the company’s stock valued at $2,930,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Price Performance

The stock has a 50 day simple moving average of $114.90 and a two-hundred day simple moving average of $102.90. The company has a market cap of $197.04 billion, a PE ratio of 24.76, a PEG ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the business earned $1.60 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Philip Morris International Inc. will post 6.47 EPS for the current fiscal year.

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.