Philip Morris International (NYSE:PM) Hits New 1-Year High – What’s Next?

Philip Morris International Inc. (NYSE:PM) reached a new 52-week high on Thursday . The stock traded as high as $161.99 and last traded at $159.40, with a volume of 1048145 shares trading hands. The stock had previously closed at $156.17.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PM. Morgan Stanley began coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective on the stock. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. UBS Group lifted their price objective on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Stifel Nicolaus upped their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Barclays lifted their price target on Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $144.56.

Philip Morris International Trading Up 3.6 %

The stock’s 50-day moving average is $147.92 and its two-hundred day moving average is $132.82. The company has a market capitalization of $251.66 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.65 and a beta of 0.53.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. On average, equities research analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Thursday, March 20th. Philip Morris International’s dividend payout ratio is currently 119.73%.

Insider Buying and Selling

In related news, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the transaction, the insider now owns 26,828 shares of the company’s stock, valued at $4,103,610.88. This represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Werner Barth sold 10,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $148.67, for a total value of $1,486,700.00. Following the transaction, the insider now owns 106,244 shares in the company, valued at $15,795,295.48. The trade was a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 131,822 shares of company stock valued at $19,655,585 in the last 90 days. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GQG Partners LLC lifted its position in shares of Philip Morris International by 14.3% in the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company’s stock worth $5,866,678,000 after purchasing an additional 6,092,558 shares during the period. Raymond James Financial Inc. bought a new position in Philip Morris International in the fourth quarter worth approximately $522,214,000. Kovitz Investment Group Partners LLC boosted its position in Philip Morris International by 372.2% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company’s stock valued at $656,303,000 after acquiring an additional 4,298,530 shares in the last quarter. Capital World Investors increased its holdings in shares of Philip Morris International by 3.6% in the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company’s stock valued at $14,752,926,000 after acquiring an additional 4,216,586 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Philip Morris International by 9.9% in the 4th quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company’s stock worth $4,241,837,000 after acquiring an additional 3,185,258 shares in 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.