Philip Morris International (NYSE:PM) Hits New 1-Year High at $104.60

Philip Morris International Inc. (NYSE:PMGet Free Report)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $104.60 and last traded at $104.41, with a volume of 510209 shares trading hands. The stock had previously closed at $104.07.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PM shares. Societe Generale raised shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price for the company in a report on Tuesday, February 13th. Stifel Nicolaus lifted their target price on shares of Philip Morris International from $108.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 24th. Finally, Argus reaffirmed a “hold” rating on shares of Philip Morris International in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $105.50.

View Our Latest Report on Philip Morris International

Philip Morris International Stock Performance

The firm’s 50 day simple moving average is $96.64 and its 200-day simple moving average is $94.00. The company has a market cap of $161.07 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 2.14 and a beta of 0.57.

Philip Morris International (NYSE:PMGet Free Report) last announced its earnings results on Tuesday, April 23rd. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. Philip Morris International had a net margin of 8.58% and a negative return on equity of 113.26%. The company had revenue of $8.79 billion for the quarter, compared to analysts’ expectations of $8.44 billion. During the same quarter in the previous year, the company posted $1.38 EPS. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Philip Morris International Inc. will post 6.32 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Friday, June 21st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.02%. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction on Friday, March 15th. The shares were sold at an average price of $93.63, for a total transaction of $772,447.50. Following the sale, the insider now owns 94,629 shares of the company’s stock, valued at approximately $8,860,113.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $96.42, for a total transaction of $1,928,400.00. Following the transaction, the insider now owns 178,447 shares in the company, valued at approximately $17,205,859.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the transaction, the insider now owns 94,629 shares in the company, valued at approximately $8,860,113.27. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PM. Jump Financial LLC purchased a new stake in Philip Morris International in the 3rd quarter valued at about $472,000. Van ECK Associates Corp raised its holdings in Philip Morris International by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 54,801 shares of the company’s stock valued at $5,074,000 after buying an additional 954 shares during the period. Aptus Capital Advisors LLC raised its holdings in Philip Morris International by 39.0% in the 3rd quarter. Aptus Capital Advisors LLC now owns 14,601 shares of the company’s stock valued at $1,352,000 after buying an additional 4,094 shares during the period. Herold Advisors Inc. raised its holdings in Philip Morris International by 66.9% in the 3rd quarter. Herold Advisors Inc. now owns 9,152 shares of the company’s stock valued at $847,000 after buying an additional 3,668 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in Philip Morris International in the 3rd quarter valued at about $27,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Company Profile

(Get Free Report)

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.

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