Philip Morris International (NYSE:PM) Stock Picked Up by Analysts at JPMorgan Chase & Co.

Research analysts at JPMorgan Chase & Co. started coverage on shares of Philip Morris International (NYSE:PM) in a report released on Tuesday, FinViz reports. The brokerage set a “neutral” rating and a $200.00 price target on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 3.54% from the company’s previous close.

Other analysts have also recently issued reports about the stock. Needham & Company LLC upped their price target on shares of Philip Morris International from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. BTIG Research set a $221.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a report on Friday, July 24th. Barclays boosted their target price on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Morgan Stanley upped their price objective on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Argus increased their price target on Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Stock Performance

Philip Morris International stock opened at $193.16 on Tuesday. The stock’s 50 day moving average price is $195.59 and its 200 day moving average price is $182.93. Philip Morris International has a one year low of $146.35 and a one year high of $214.35. The firm has a market capitalization of $301.07 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 2.83 and a beta of 0.34.

Philip Morris International (NYSE:PM) last announced its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.06. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.24 earnings per share. On average, analysts forecast that Philip Morris International will post 8.32 earnings per share for the current fiscal year.

Institutional Trading of Philip Morris International

A number of hedge funds and other institutional investors have recently made changes to their positions in PM. Edgestream Partners L.P. bought a new stake in Philip Morris International during the third quarter worth approximately $879,000. Banco Santander S.A. boosted its stake in Philip Morris International by 803.0% during the 3rd quarter. Banco Santander S.A. now owns 80,712 shares of the company’s stock valued at $15,401,000 after purchasing an additional 71,774 shares in the last quarter. First Financial Bankshares Inc increased its position in shares of Philip Morris International by 15.5% during the 3rd quarter. First Financial Bankshares Inc now owns 2,121 shares of the company’s stock valued at $405,000 after purchasing an additional 284 shares during the period. HighTower Advisors LLC grew its holdings in Philip Morris International by 0.6% during the third quarter. HighTower Advisors LLC now owns 986,723 shares of the company’s stock worth $188,287,000 after acquiring an additional 5,737 shares during the period. Finally, Hall Capital Management Co. Inc. bought a new stake in shares of Philip Morris International in the 3rd quarter worth approximately $209,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Company Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands.

The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.

Philip Morris International became an independent publicly traded company in 2008 after separating from Altria Group.