Philip Morris International (NYSE:PM) Hits New 1-Year High on Analyst Upgrade

Philip Morris International Inc. (NYSE:PMGet 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

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 owns 959,761 shares in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,418 shares of company stock worth $15,247,052 over the last three months. Insiders own 0.14% of the company’s stock.

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:PMGet 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

(Get Free Report)

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.

Further Reading

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