JPMorgan Chase & Co. Increases Philip Morris International (NYSE:PM) Price Target to $145.00

Philip Morris International (NYSE:PM) had its price objective increased by equities research analysts at JPMorgan Chase & Co. from $125.00 to $145.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 9.19% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $145.00 price objective (up from $138.00) on shares of Philip Morris International in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.85.

Philip Morris International Stock Up 1.1 %

NYSE PM opened at $132.79 on Wednesday. The stock has a market capitalization of $206.43 billion, a P/E ratio of 25.94, a P/E/G ratio of 2.35 and a beta of 0.55. Philip Morris International has a 52-week low of $87.23 and a 52-week high of $132.90. The firm has a 50-day moving average price of $121.97 and a 200 day moving average price of $109.28.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.82 by $0.09. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.91 billion during the quarter, compared to analysts’ expectations of $9.68 billion. During the same period last year, the firm earned $1.67 EPS. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that Philip Morris International will post 6.45 earnings per share for the current fiscal year.

Insider Activity at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

A number of hedge funds have recently made changes to their positions in the company. Brookstone Capital Management lifted its holdings in Philip Morris International by 5.4% in the 1st quarter. Brookstone Capital Management now owns 28,607 shares of the company’s stock worth $2,621,000 after buying an additional 1,466 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Philip Morris International in the first quarter worth about $125,000. Wealthcare Advisory Partners LLC boosted its holdings in Philip Morris International by 8.8% in the first quarter. Wealthcare Advisory Partners LLC now owns 10,522 shares of the company’s stock valued at $964,000 after purchasing an additional 848 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Philip Morris International by 3.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 226,472 shares of the company’s stock valued at $20,749,000 after purchasing an additional 7,667 shares in the last quarter. Finally, Thrive Wealth Management LLC increased its holdings in Philip Morris International by 19.0% during the 1st quarter. Thrive Wealth Management LLC now owns 7,960 shares of the company’s stock worth $729,000 after purchasing an additional 1,272 shares during the last quarter. Hedge funds and other institutional investors 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.