Philip Morris International (NYSE:PM) PT Raised to $145.00 at Barclays

Philip Morris International (NYSE:PM) had its price target lifted by Barclays from $130.00 to $145.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

PM has been the topic of several other reports. Bank of America increased their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the company a buy rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. raised their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $116.00 to $118.00 and gave the company a buy rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the company a buy rating in a research note on Wednesday, September 4th. Finally, StockNews.com raised shares of Philip Morris International from a hold rating to a buy rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of Moderate Buy and a consensus target price of $117.05.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $124.65 on Monday. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $128.22. The firm has a market capitalization of $193.78 billion, a price-to-earnings ratio of 24.35, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The business’s 50 day simple moving average is $115.84 and its 200-day simple moving average is $103.21.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter last year, the business posted $1.60 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts anticipate that Philip Morris International will post 6.47 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a yield of 4.33%. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insider Transactions at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Gilbert & Cook Inc. grew its position in Philip Morris International by 3.8% in the 4th quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock worth $1,030,000 after purchasing an additional 404 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its stake in shares of Philip Morris International by 21.5% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 12,919 shares of the company’s stock worth $1,215,000 after purchasing an additional 2,283 shares in the last quarter. Ieq Capital LLC raised its stake in shares of Philip Morris International by 22.3% during the fourth quarter. Ieq Capital LLC now owns 44,237 shares of the company’s stock valued at $4,162,000 after purchasing an additional 8,056 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Philip Morris International by 5.0% in the 4th quarter. Avantax Advisory Services Inc. now owns 55,451 shares of the company’s stock valued at $5,217,000 after buying an additional 2,656 shares in the last quarter. Finally, Partnership Wealth Management LLC bought a new stake in shares of Philip Morris International during the 4th quarter worth about $127,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.