Philip Morris International (NYSE:PM) Price Target Raised to $139.00 at Bank of America

Philip Morris International (NYSE:PM) had its price objective lifted by Bank of America from $125.00 to $139.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Philip Morris International from a hold rating to a buy rating in a research report on Monday, July 22nd. Stifel Nicolaus increased their target price on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. 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 report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a buy rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $113.70.

Philip Morris International Trading Up 0.5 %

Shares of PM stock opened at $125.81 on Wednesday. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $127.45. The firm’s fifty day simple moving average is $113.87 and its 200 day simple moving average is $102.32. The firm has a market capitalization of $195.58 billion, a P/E ratio of 24.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.55.

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

Insider Buying and Selling

In related 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 transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related 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 transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 158,447 shares in the company, valued at $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.

Institutional Trading of Philip Morris International

Several hedge funds have recently bought and sold shares of the stock. GQG Partners LLC raised its holdings in shares of Philip Morris International by 5,006.0% in the first quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after purchasing an additional 5,841,696 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Philip Morris International by 9.1% in the fourth quarter. Capital Research Global Investors now owns 58,416,175 shares of the company’s stock valued at $5,495,794,000 after purchasing an additional 4,869,272 shares during the last quarter. Lone Pine Capital LLC acquired a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $282,785,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Philip Morris International by 79.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock valued at $595,634,000 after purchasing an additional 2,599,684 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Philip Morris International by 25.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 10,439,154 shares of the company’s stock valued at $996,104,000 after purchasing an additional 2,123,311 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Company Profile

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.