Philip Morris International (NYSE:PM) Given New $135.00 Price Target at Deutsche Bank Aktiengesellschaft

Philip Morris International (NYSE:PM) had its target price hoisted by investment analysts at Deutsche Bank Aktiengesellschaft from $118.00 to $135.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price indicates a potential upside of 11.21% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus boosted their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. UBS Group boosted their price target on Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. The Goldman Sachs Group boosted their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. lifted 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. Finally, StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $120.68.

Philip Morris International Price Performance

Shares of PM opened at $121.39 on Tuesday. The company has a 50-day simple moving average of $119.88 and a two-hundred day simple moving average of $105.92. The firm has a market capitalization of $188.71 billion, a PE ratio of 23.71, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. Philip Morris International has a one year low of $87.23 and a one year high of $128.22.

Philip Morris International (NYSE:PM) last released its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. Analysts expect that Philip Morris International will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was 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 of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Philip Morris International

Large investors have recently made changes to their positions in the business. Iron Horse Wealth Management LLC boosted its position in shares of Philip Morris International by 684.4% during 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 grew its position in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of 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 purchasing an additional 116 shares during the last quarter. Boyd Watterson Asset Management LLC OH boosted its stake in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after buying an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC bought a new position in Philip Morris International during the second quarter valued at approximately $34,000. 78.63% of the stock is currently owned by hedge funds and other 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.