Citigroup Boosts Philip Morris International (NYSE:PM) Price Target to $132.00

Philip Morris International (NYSE:PM) had its price objective upped by Citigroup from $118.50 to $132.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts have also commented on PM. Bank of America lifted their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a buy rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a buy rating in a report on Tuesday, October 1st. Barclays boosted their price objective on Philip Morris International from $130.00 to $145.00 and gave the stock an overweight rating in a research report on Monday, September 9th. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an overweight rating in a report on Thursday, July 25th. Finally, UBS Group increased their target price on Philip Morris International from $95.00 to $105.00 and gave the company a sell rating in a report on Monday, September 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Philip Morris International has an average rating of Moderate Buy and a consensus target price of $122.41.

Philip Morris International Price Performance

Shares of PM stock opened at $119.39 on Tuesday. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $128.22. The company has a market cap of $185.63 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 2.35 and a beta of 0.55. The stock has a 50 day simple moving average of $120.79 and a 200-day simple moving average of $107.18.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. Analysts anticipate that Philip Morris International will post 6.45 earnings per share for the current fiscal 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 issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.52%. The ex-dividend date was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is 95.58%.

Insider Transactions at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International 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 sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Diversify Advisory Services LLC acquired a new position in Philip Morris International in the first quarter worth $5,634,000. Axxcess Wealth Management LLC raised its stake in Philip Morris International by 25.4% during the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after acquiring an additional 6,974 shares during the period. Nebula Research & Development LLC bought a new position in Philip Morris International in the fourth quarter worth about $857,000. Duality Advisers LP boosted its stake in Philip Morris International by 165.6% in the first quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock valued at $3,541,000 after acquiring an additional 24,093 shares during the period. Finally, Farmers Trust Co. grew its holdings in shares of Philip Morris International by 425.3% during the first quarter. Farmers Trust Co. now owns 33,187 shares of the company’s stock valued at $3,041,000 after purchasing an additional 26,869 shares during the last quarter. 78.63% of the stock is currently owned by 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.