Philip Morris International (NYSE:PM) Hits New 12-Month High After Analyst Upgrade

Philip Morris International Inc. (NYSE:PM) hit a new 52-week high on Thursday after Citigroup raised their price target on the stock from $163.00 to $180.00. Citigroup currently has a buy rating on the stock. Philip Morris International traded as high as $163.44 and last traded at $163.22, with a volume of 1343462 shares. The stock had previously closed at $160.48.

PM has been the subject of several other research reports. Stifel Nicolaus lifted their price target on shares of Philip Morris International from $160.00 to $168.00 and gave the company a “buy” rating in a research note on Thursday, April 10th. Barclays increased their price target on Philip Morris International from $145.00 to $175.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Morgan Stanley started coverage on shares of Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Finally, StockNews.com lowered shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.78.

Insider Activity at Philip Morris International

In other news, SVP Yann Guerin sold 2,500 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the sale, the senior vice president now owns 30,308 shares in the company, valued at approximately $4,584,994.24. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lars Dahlgren sold 3,679 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the transaction, the insider now directly owns 26,828 shares of the company’s stock, valued at $4,103,610.88. The trade was a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock valued at $19,655,585 over the last 90 days. Insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

Large investors have recently bought and sold shares of the stock. Morse Asset Management Inc acquired a new stake in Philip Morris International during the 3rd quarter worth about $206,000. McIlrath & Eck LLC boosted its position in Philip Morris International by 38.5% in the third quarter. McIlrath & Eck LLC now owns 561 shares of the company’s stock valued at $68,000 after buying an additional 156 shares during the last quarter. Anchor Investment Management LLC increased its holdings in Philip Morris International by 3.5% in the 3rd quarter. Anchor Investment Management LLC now owns 46,037 shares of the company’s stock worth $5,589,000 after buying an additional 1,544 shares during the period. Pine Valley Investments Ltd Liability Co increased its holdings in Philip Morris International by 225.4% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 23,379 shares of the company’s stock worth $2,841,000 after buying an additional 16,194 shares during the period. Finally, World Investment Advisors LLC lifted its stake in Philip Morris International by 567.0% during the 3rd quarter. World Investment Advisors LLC now owns 50,672 shares of the company’s stock valued at $6,152,000 after acquiring an additional 43,075 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 1.6 %

The firm has a market capitalization of $253.83 billion, a PE ratio of 36.16, a P/E/G ratio of 2.65 and a beta of 0.46. The firm’s fifty day moving average price is $153.50 and its 200 day moving average price is $135.62.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.31%. The ex-dividend date was Thursday, March 20th. Philip Morris International’s payout ratio is 119.73%.

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.