Philip Morris International (NYSE:PM) Hits New 1-Year High at $123.94

Shares of Philip Morris International Inc. (NYSE:PM) reached a new 52-week high during trading on Tuesday . The company traded as high as $123.94 and last traded at $123.74, with a volume of 13523 shares trading hands. The stock had previously closed at $123.29.

Analyst Ratings Changes

A number of equities research analysts have issued reports on PM shares. Barclays increased their price objective on shares of Philip Morris International from $110.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Stifel Nicolaus raised their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $113.70.

Philip Morris International Price Performance

The stock has a market capitalization of $196.82 billion, a P/E ratio of 24.73, a P/E/G ratio of 2.41 and a beta of 0.55. The firm has a 50-day simple moving average of $112.91 and a 200 day simple moving average of $101.82.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same period last year, the company earned $1.60 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Sell-side analysts anticipate that Philip Morris International Inc. will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were issued a $1.30 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a yield of 4.11%. Philip Morris International’s payout ratio is 101.56%.

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Philip Morris International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in Philip Morris International during the second quarter worth $152,000. Heritage Oak Wealth Advisors LLC acquired a new position in shares of Philip Morris International during the second quarter valued at about $411,000. Souders Financial Advisors boosted its position in shares of Philip Morris International by 9.5% during the 2nd quarter. Souders Financial Advisors now owns 5,942 shares of the company’s stock worth $602,000 after purchasing an additional 514 shares in the last quarter. Dana Investment Advisors Inc. increased its position in Philip Morris International by 1.6% in the 2nd quarter. Dana Investment Advisors Inc. now owns 111,734 shares of the company’s stock valued at $11,322,000 after buying an additional 1,800 shares in the last quarter. Finally, New Century Financial Group LLC raised its stake in Philip Morris International by 62.0% during the 2nd quarter. New Century Financial Group LLC now owns 9,709 shares of the company’s stock worth $984,000 after buying an additional 3,716 shares during the period. 78.63% of the stock is currently owned by 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.