Philip Morris International Inc. (NYSE:PM – Get Free Report)’s stock price reached a new 52-week high on Thursday after Barclays raised their price target on the stock from $145.00 to $155.00. Barclays currently has an overweight rating on the stock. Philip Morris International traded as high as $133.51 and last traded at $133.51, with a volume of 100090 shares traded. The stock had previously closed at $132.11.
Several other equities analysts also recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Finally, UBS Group raised their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $127.85.
View Our Latest Stock Report on PM
Insider Buying and Selling at Philip Morris International
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Iron Horse Wealth Management LLC lifted its stake in Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after acquiring an additional 219 shares during the last quarter. Sachetta LLC lifted its stake in Philip Morris International by 64.8% in the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the last quarter. Concord Wealth Partners lifted its stake in Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after acquiring an additional 298 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Philip Morris International by 57.4% in the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new position in Philip Morris International in the second quarter worth approximately $34,000. Institutional investors and hedge funds own 78.63% of the company’s stock.
Philip Morris International Price Performance
The business’s 50 day moving average is $123.23 and its 200-day moving average is $110.73. The company has a market cap of $208.10 billion, a PE ratio of 20.97, a P/E/G ratio of 2.57 and a beta of 0.55.
Philip Morris International (NYSE:PM – Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.09. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a net margin of 12.10% and a negative return on equity of 117.94%. The company’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.67 EPS. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current fiscal year.
Philip Morris International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is currently 85.71%.
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.
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