Philip Morris International (NYSE:PM) Price Target Increased to $145.00 by Analysts at JPMorgan Chase & Co.

Philip Morris International (NYSE:PM) had its target price hoisted by JPMorgan Chase & Co. from $125.00 to $145.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.

PM has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. The Goldman Sachs Group upped their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. UBS Group upped their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday. Barclays increased their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, September 9th. Finally, Citigroup increased their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and an average price target of $126.85.

Philip Morris International Stock Down 0.0 %

NYSE PM opened at $131.39 on Wednesday. The company has a market capitalization of $204.25 billion, a P/E ratio of 25.66, a P/E/G ratio of 2.35 and a beta of 0.55. Philip Morris International has a 12-month low of $87.23 and a 12-month high of $131.97. The firm has a 50-day moving average price of $121.97 and a two-hundred day moving average price of $109.28.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter in the prior year, the firm posted $1.67 EPS. The firm’s quarterly revenue was up 8.4% on a year-over-year basis. Equities analysts expect that Philip Morris International will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were given a $1.35 dividend. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is 105.47%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, 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 completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Philip Morris International

Large investors have recently modified their holdings of the company. GQG Partners LLC raised its stake in Philip Morris International by 5,006.0% during the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock worth $545,908,000 after buying an additional 5,841,696 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after buying an additional 2,599,684 shares during the last quarter. Van ECK Associates Corp raised its stake in Philip Morris International by 5,045.1% during the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after buying an additional 2,081,472 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Philip Morris International by 3.1% in the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.