Philip Morris International (NYSE:PM) Price Target Cut to $180.00 by Analysts at Barclays

Philip Morris International (NYSE:PM) had its price target reduced by Barclays from $220.00 to $180.00 in a research note released on Monday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 target price on shares of Philip Morris International in a research note on Wednesday, July 23rd. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. KGI Securities initiated coverage on Philip Morris International in a research report on Monday, August 4th. They issued an “outperform” rating for the company. Wall Street Zen raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Twelve equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $189.56.

Philip Morris International Stock Down 1.7%

NYSE:PM opened at $152.78 on Monday. Philip Morris International has a twelve month low of $116.12 and a twelve month high of $186.69. The stock’s 50-day simple moving average is $157.26 and its 200 day simple moving average is $167.74. The firm has a market capitalization of $237.82 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.25 and a beta of 0.43.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. On average, analysts anticipate that Philip Morris International will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.8%. The ex-dividend date was Friday, October 3rd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is 106.52%.

Institutional Investors Weigh In On Philip Morris International

Large investors have recently modified their holdings of the company. WCM Investment Management LLC grew its holdings in Philip Morris International by 24,968.0% during the 2nd quarter. WCM Investment Management LLC now owns 11,275,606 shares of the company’s stock worth $2,041,223,000 after acquiring an additional 11,230,626 shares during the period. Nuveen LLC bought a new stake in Philip Morris International in the first quarter worth approximately $1,712,994,000. Wellington Management Group LLP boosted its stake in Philip Morris International by 26.4% during the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company’s stock worth $3,466,730,000 after acquiring an additional 4,563,632 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Philip Morris International by 57.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,794,530 shares of the company’s stock valued at $1,554,686,000 after purchasing an additional 3,575,158 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Philip Morris International by 7.2% during the third quarter. Capital Research Global Investors now owns 43,546,533 shares of the company’s stock valued at $7,063,263,000 after purchasing an additional 2,911,835 shares during the period. 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.