Stifel Nicolaus Reiterates Buy Rating for Philip Morris International (NYSE:PM)

Stifel Nicolaus reaffirmed their buy rating on shares of Philip Morris International (NYSE:PM) in a report published on Wednesday, Benzinga reports. They currently have a $145.00 price objective on the stock, up from their prior price objective of $138.00.

A number of other equities analysts also recently weighed in on the stock. Barclays boosted their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. The Goldman Sachs Group boosted their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. UBS Group decreased their target price on Philip Morris International from $105.00 to $103.00 and set a “sell” rating for the company in a research report on Tuesday, October 15th. Finally, Bank of America upped their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.85.

Philip Morris International Stock Performance

NYSE:PM opened at $131.39 on Wednesday. Philip Morris International has a 52 week low of $87.23 and a 52 week high of $131.97. The firm has a 50-day moving average price of $121.97 and a two-hundred day moving average price of $109.28. The firm has a market cap of $204.25 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. During the same period last year, the business posted $1.67 earnings per share. Philip Morris International’s revenue was up 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Philip Morris International will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is presently 105.47%.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of the firm’s 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 transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Philip Morris International

Large investors have recently added to or reduced their stakes in the business. GQG Partners LLC raised its holdings in shares of Philip Morris International by 5,006.0% in the 1st quarter. GQG Partners LLC now owns 5,958,391 shares of the company’s stock valued at $545,908,000 after acquiring an additional 5,841,696 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Philip Morris International by 79.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,878,158 shares of the company’s stock worth $595,634,000 after purchasing an additional 2,599,684 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Philip Morris International by 5,045.1% in the first quarter. Van ECK Associates Corp now owns 2,122,729 shares of the company’s stock worth $194,484,000 after purchasing an additional 2,081,472 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Philip Morris International by 16.3% in the second quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Philip Morris International by 3.1% during the first quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after purchasing an additional 1,800,864 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

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.