Brokerages Set Philip Morris International Inc. (NYSE:PM) Target Price at $124.15

Philip Morris International Inc. (NYSE:PM) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $123.95.

Several research analysts recently issued reports on the stock. UBS Group reduced their target price on shares of Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a report on Tuesday. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. The Goldman Sachs Group raised their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th.

Philip Morris International Trading Up 0.0 %

NYSE PM opened at $120.20 on Monday. The company has a fifty day simple moving average of $121.35 and a two-hundred day simple moving average of $108.38. The stock has a market cap of $186.86 billion, a P/E ratio of 23.48, a P/E/G ratio of 2.35 and a beta of 0.55. Philip Morris International has a 12-month low of $87.23 and a 12-month high of $128.22.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $1.60 earnings per share. As a group, sell-side analysts forecast that Philip Morris International will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.49%. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Insider Activity at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated 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 sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Institutional Trading of Philip Morris International

Institutional investors have recently modified their holdings of the stock. GQG Partners LLC boosted its position in Philip Morris International by 5,006.0% during the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock worth $545,908,000 after acquiring an additional 5,841,696 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after acquiring an additional 2,599,684 shares during the last quarter. Van ECK Associates Corp boosted its position in Philip Morris International by 5,045.1% during the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after acquiring an additional 2,081,472 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Philip Morris International by 16.3% during the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock worth $1,341,050,000 after acquiring an additional 1,856,551 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after acquiring an additional 1,800,864 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.