Philip Morris International (NYSE:PM) Stock Price Expected to Rise, Barclays Analyst Says

Philip Morris International (NYSE:PM) had its price target upped by Barclays from $145.00 to $155.00 in a report issued on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

PM has been the topic of a number of other research reports. Stifel Nicolaus reissued a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. The Goldman Sachs Group raised their price target on Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Bank of America lifted their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Citigroup lifted their price objective on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.85.

Philip Morris International Price Performance

Philip Morris International stock opened at $130.65 on Wednesday. Philip Morris International has a 1-year low of $87.82 and a 1-year high of $134.15. The stock has a market cap of $203.14 billion, a PE ratio of 20.74, a P/E/G ratio of 2.32 and a beta of 0.54. The stock’s fifty day moving average is $123.70 and its two-hundred day moving average is $111.32.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.09. The company had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.67 earnings per share. On average, research analysts expect that Philip Morris International will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were given a dividend of $1.35 per share. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is currently 85.71%.

Insider Buying and Selling

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the transaction, the chairman now directly owns 959,761 shares in the company, valued at $124,624,965.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 101,918 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now directly owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,418 shares of company stock worth $15,247,052 in the last ninety days. Insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

Several institutional investors have recently made changes to their positions in PM. Miracle Mile Advisors LLC purchased a new stake in shares of Philip Morris International during the 1st quarter valued at $201,000. Kovack Advisors Inc. boosted its position in Philip Morris International by 10.4% during the 1st quarter. Kovack Advisors Inc. now owns 6,600 shares of the company’s stock worth $605,000 after purchasing an additional 624 shares during the period. First Trust Direct Indexing L.P. boosted its position in Philip Morris International by 19.2% during the 1st quarter. First Trust Direct Indexing L.P. now owns 16,218 shares of the company’s stock worth $1,486,000 after purchasing an additional 2,615 shares during the period. Accel Wealth Management boosted its position in Philip Morris International by 11.5% during the 1st quarter. Accel Wealth Management now owns 2,411 shares of the company’s stock worth $221,000 after purchasing an additional 248 shares during the period. Finally, American National Bank & Trust Co. VA purchased a new stake in Philip Morris International during the 1st quarter worth $303,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.