Philip Morris International (NYSE:PM) Reaches New 12-Month High on Earnings Beat

Philip Morris International Inc. (NYSE:PM) shares hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $146.78 and last traded at $140.26, with a volume of 1619991 shares changing hands. The stock had previously closed at $130.98.

The company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Analyst Upgrades and Downgrades

Several research analysts have commented on PM shares. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays dropped their price target on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley initiated coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price for the company. Finally, UBS Group increased their price target on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $134.35.

Institutional Investors Weigh In On Philip Morris International

Several hedge funds have recently made changes to their positions in the company. Sequoia Financial Advisors LLC raised its holdings in shares of Philip Morris International by 141.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 87,473 shares of the company’s stock valued at $10,527,000 after acquiring an additional 51,277 shares in the last quarter. HighTower Advisors LLC increased its position in Philip Morris International by 3.1% during the 4th quarter. HighTower Advisors LLC now owns 1,035,015 shares of the company’s stock valued at $124,564,000 after purchasing an additional 30,997 shares during the period. AGF Management Ltd. raised its holdings in shares of Philip Morris International by 13.6% in the 4th quarter. AGF Management Ltd. now owns 665,329 shares of the company’s stock valued at $80,072,000 after purchasing an additional 79,449 shares in the last quarter. Cooke & Bieler LP lifted its position in shares of Philip Morris International by 2.8% in the 4th quarter. Cooke & Bieler LP now owns 1,377,121 shares of the company’s stock worth $165,737,000 after purchasing an additional 37,292 shares during the period. Finally, Avantax Planning Partners Inc. boosted its stake in shares of Philip Morris International by 8.1% during the fourth quarter. Avantax Planning Partners Inc. now owns 11,778 shares of the company’s stock valued at $1,418,000 after purchasing an additional 885 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

The company has a market capitalization of $224.51 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 2.30 and a beta of 0.55. The company’s fifty day moving average is $125.44 and its 200-day moving average is $123.61.

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.