Philip Morris International (NYSE:PM) Reaches New 12-Month High Following Earnings Beat

Philip Morris International Inc. (NYSE:PM)’s share price reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $169.00 and last traded at $170.04, with a volume of 111325 shares. The stock had previously closed at $164.11.

The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. During the same period in the prior year, the firm earned $1.50 earnings per share.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 119.73%.

Analyst Ratings Changes

A number of research analysts have issued reports on PM shares. Citigroup lifted their target price on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Argus raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. JPMorgan Chase & Co. boosted their target price 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. Stifel Nicolaus increased their target price on shares of Philip Morris International from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, April 10th. Finally, Barclays boosted their price objective on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $150.78.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 40,643 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $149.06, for a total value of $6,058,245.58. Following the sale, the chairman now directly owns 561,349 shares in the company, valued at approximately $83,674,681.94. The trade was a 6.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lars Dahlgren sold 3,679 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was 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 approximately $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,822 shares of company stock worth $19,655,585. 0.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. NewSquare Capital LLC lifted its position in Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after purchasing an additional 72 shares during the last quarter. McClarren Financial Advisors Inc. bought a new stake in Philip Morris International during the 4th quarter valued at $33,000. Pacifica Partners Inc. raised its stake in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Knuff & Co LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $36,000. Finally, Ball & Co Wealth Management Inc. purchased a new position in Philip Morris International during the 4th quarter valued at $36,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Price Performance

The company has a market capitalization of $261.60 billion, a P/E ratio of 37.27, a P/E/G ratio of 2.65 and a beta of 0.46. The stock’s 50 day moving average is $154.69 and its 200-day moving average is $136.86.

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.