Philip Morris International (NYSE:PM) Price Target Increased to $140.00 by Analysts at The Goldman Sachs Group

Philip Morris International (NYSE:PM) had its price objective upped by The Goldman Sachs Group from $126.00 to $140.00 in a research report sent to investors on Thursday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Other analysts have also issued reports about 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. Barclays upped their price objective on Philip Morris International from $130.00 to $145.00 and gave the company an overweight rating in a research note on Monday, September 9th. JPMorgan Chase & Co. raised their target price on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research report on Thursday, July 25th. UBS Group upped their price target on Philip Morris International from $95.00 to $105.00 and gave the company a sell rating in a research report on Monday, September 9th. Finally, Stifel Nicolaus lifted their price objective on Philip Morris International from $120.00 to $138.00 and gave the company a buy rating in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $119.14.

Philip Morris International Stock Down 0.7 %

Shares of PM opened at $120.84 on Thursday. The stock’s 50-day moving average price is $119.06 and its 200 day moving average price is $105.29. Philip Morris International has a 12-month low of $87.23 and a 12-month high of $128.22. The firm has a market capitalization of $187.88 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 2.37 and a beta of 0.55.

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

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be issued a dividend of $1.35 per share. The ex-dividend date is Thursday, September 26th. This represents a $5.40 dividend on an annualized basis and a yield of 4.47%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio is currently 101.56%.

Insider Buying and Selling at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the company’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 transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Philip Morris International

Several institutional investors have recently modified their holdings of PM. Iron Horse Wealth Management LLC grew its stake in shares of Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after purchasing an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new position in Philip Morris International during the second quarter worth about $25,000. Sachetta LLC grew its position in shares of Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH increased its stake in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after acquiring an additional 230 shares during the last quarter. Finally, Fortitude Family Office LLC raised its position in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds 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.