Philip Morris International (NYSE:PM) Reaches New 12-Month High – Here’s What Happened

Philip Morris International Inc. (NYSE:PM) shares hit a new 52-week high on Wednesday . The stock traded as high as $148.53 and last traded at $148.17, with a volume of 4989453 shares trading hands. The stock had previously closed at $146.57.

Analysts Set New Price Targets

A number of equities analysts recently commented on PM shares. StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday. Stifel Nicolaus boosted their target price on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Barclays reduced their price target on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley initiated coverage on Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price objective on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.56.

Philip Morris International Stock Performance

The firm’s fifty day moving average price is $126.73 and its 200 day moving average price is $124.72. The firm has a market cap of $232.08 billion, a P/E ratio of 33.10, a price-to-earnings-growth ratio of 2.55 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 9.24%. As a group, analysts expect that Philip Morris International Inc. will post 7.11 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, December 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.62%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is presently 119.73%.

Insider Transactions at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the sale, the vice president now owns 20,799 shares of the company’s stock, valued at $3,117,354.12. The trade was a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CANADA LIFE ASSURANCE Co grew its holdings in Philip Morris International by 0.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 426,143 shares of the company’s stock worth $51,250,000 after acquiring an additional 1,117 shares during the period. GKV Capital Management Co. Inc. purchased a new stake in Philip Morris International in the 4th quarter worth approximately $205,000. First Commonwealth Financial Corp PA boosted its position in Philip Morris International by 4.4% in the 4th quarter. First Commonwealth Financial Corp PA now owns 10,296 shares of the company’s stock worth $1,239,000 after purchasing an additional 432 shares in the last quarter. Farringdon Capital Ltd. acquired a new position in shares of Philip Morris International in the 4th quarter valued at $1,522,000. Finally, Advisory Research Inc. boosted its holdings in Philip Morris International by 29.0% during the fourth quarter. Advisory Research Inc. now owns 120,785 shares of the company’s stock worth $14,537,000 after buying an additional 27,187 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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.