Analysts Set Philip Morris International Inc. (NYSE:PM) Target Price at $117.05

Shares of Philip Morris International Inc. (NYSE:PM) have received an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $117.05.

Several brokerages recently issued reports on PM. StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Bank of America raised their price objective 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. Barclays upped their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, September 9th. Finally, UBS Group boosted their price target on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $120.79 on Thursday. The firm’s 50 day simple moving average is $118.17 and its 200 day simple moving average is $104.66. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The company has a market capitalization of $187.77 billion, a price-to-earnings ratio of 23.59, a P/E/G ratio of 2.45 and a beta of 0.55.

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, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the firm posted $1.60 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts expect 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 will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be paid a $1.35 dividend. The ex-dividend date is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.47%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is currently 105.47%.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $9,877,305.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Massimo Andolina sold 9,000 shares of the firm’s 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. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the 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 completion of the transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its position in shares of Philip Morris International by 3.8% in the fourth quarter. Gilbert & Cook Inc. now owns 10,946 shares of the company’s stock valued at $1,030,000 after buying an additional 404 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in shares of Philip Morris International during the 4th quarter worth $460,000. D.A. Davidson & CO. increased its position in shares of Philip Morris International by 2.2% in the fourth quarter. D.A. Davidson & CO. now owns 98,075 shares of the company’s stock worth $9,227,000 after purchasing an additional 2,140 shares during the period. Assetmark Inc. raised its stake in Philip Morris International by 21.1% in the fourth quarter. Assetmark Inc. now owns 137,340 shares of the company’s stock valued at $12,921,000 after purchasing an additional 23,911 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in Philip Morris International by 5.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,123 shares of the company’s stock worth $482,000 after purchasing an additional 268 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

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.