UBS Group Cuts Philip Morris International (NYSE:PM) Price Target to $103.00

Philip Morris International (NYSE:PM) had its price target cut by UBS Group from $105.00 to $103.00 in a research report released on Tuesday, Benzinga reports. They currently have a sell rating on the stock.

Several other brokerages have also issued reports on PM. JPMorgan Chase & Co. upped their target price on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. StockNews.com raised Philip Morris International from a hold rating to a buy rating in a research note on Monday, July 22nd. Barclays upped their target price on Philip Morris International from $130.00 to $145.00 and gave the stock an overweight rating in a research note on Monday, September 9th. The Goldman Sachs Group upped their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a buy rating in a research note on Thursday, September 26th. Finally, Citigroup upped their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a buy rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $123.95.

Philip Morris International Trading Up 0.3 %

Shares of NYSE PM opened at $120.42 on Tuesday. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $128.22. The firm has a market capitalization of $187.20 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 2.35 and a beta of 0.55. The business has a 50-day moving average of $121.09 and a 200-day moving average of $108.01.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $9.19 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. On average, analysts predict that Philip Morris International will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $5.40 annualized dividend and a yield of 4.48%. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 105.47%.

Insider Activity at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the company’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 transaction of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Wilde Frederic De sold 20,000 shares of the company’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 transaction of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Philip Morris International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cascade Investment Group Inc. purchased a new stake in Philip Morris International in the third quarter worth $215,000. Acorn Creek Capital LLC purchased a new stake in Philip Morris International in the third quarter worth $213,000. Luts & Greenleigh Group Inc. grew its stake in Philip Morris International by 1.1% in the third quarter. Luts & Greenleigh Group Inc. now owns 8,448 shares of the company’s stock worth $1,026,000 after purchasing an additional 89 shares during the period. Dover Advisors LLC grew its stake in Philip Morris International by 5.6% in the third quarter. Dover Advisors LLC now owns 8,237 shares of the company’s stock worth $1,000,000 after purchasing an additional 439 shares during the period. Finally, SWS Partners grew its stake in Philip Morris International by 4,939.7% in the third quarter. SWS Partners now owns 21,217 shares of the company’s stock worth $2,576,000 after purchasing an additional 20,796 shares during the period. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.