Barclays Cuts Philip Morris International (NYSE:PM) Price Target to $145.00

Philip Morris International (NYSE:PM) had its price objective decreased by Barclays from $155.00 to $145.00 in a report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. The Goldman Sachs Group lifted their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised their price target on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. raised their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup raised their price target on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus target price of $130.39.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $117.25 on Wednesday. The business has a fifty day simple moving average of $126.34 and a two-hundred day simple moving average of $120.58. Philip Morris International has a 1 year low of $87.82 and a 1 year high of $134.15. The company has a market capitalization of $182.30 billion, a price-to-earnings ratio of 18.61, a P/E/G ratio of 2.22 and a beta of 0.54.

Philip Morris International (NYSE:PM) last posted its 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 negative return on equity of 117.94% and a net margin of 10.35%. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same quarter last year, the firm earned $1.67 earnings per share. The company’s revenue was up 8.4% on a year-over-year basis. As a group, equities analysts anticipate that Philip Morris International will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.61%. The ex-dividend date is Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is currently 85.71%.

Insider Transactions at Philip Morris International

In related news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred 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 of the company’s stock, valued at $12,402,431.64. The trade was a 7.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 9.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Philip Morris International

Institutional investors have recently added to or reduced their stakes in the business. Strategic Financial Concepts LLC acquired a new position in shares of Philip Morris International during the second quarter worth approximately $25,000. Sachetta LLC raised its position in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the period. Valley Wealth Managers Inc. raised its position in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after purchasing an additional 183 shares during the period. Dunhill Financial LLC grew its holdings in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 161 shares in the last quarter. Finally, Concord Wealth Partners grew its holdings in Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares in the last quarter. 78.63% of the stock is 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.