UBS Group Boosts Philip Morris International (NYSE:PM) Price Target to $105.00

Philip Morris International (NYSE:PM) had its price objective lifted by UBS Group from $103.00 to $105.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a sell rating on the stock.

PM has been the subject of a number of other research reports. The Goldman Sachs Group increased their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America increased their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Citigroup increased their price target on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, Barclays increased their price target 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $126.85.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $131.39 on Wednesday. The company has a market cap of $204.25 billion, a PE ratio of 25.66, a price-to-earnings-growth 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 $131.97. The firm has a 50 day simple moving average of $121.97 and a 200 day simple moving average of $109.28.

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

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.11%. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Iron Horse Wealth Management LLC grew its position in Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the last quarter. Sachetta LLC lifted its holdings in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after acquiring an additional 105 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Philip Morris International by 57.4% during the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after acquiring an additional 116 shares during the period. Olistico Wealth LLC bought a new position in shares of Philip Morris International during the 2nd quarter worth about $34,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of Philip Morris International during the 2nd quarter worth about $42,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.