Barclays Has Lowered Expectations for Philip Morris International (NYSE:PM) Stock Price

Philip Morris International (NYSE:PM) had its price target dropped by analysts at Barclays from $155.00 to $145.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 19.00% from the stock’s previous close.

PM has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group upped their price objective on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. UBS Group raised their target price on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.39.

Philip Morris International Trading Up 0.4 %

Shares of PM opened at $121.85 on Wednesday. The stock has a 50 day moving average of $126.60 and a 200 day moving average of $120.47. The company has a market capitalization of $189.46 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.22 and a beta of 0.54. Philip Morris International has a 12 month low of $87.82 and a 12 month high of $134.15.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.09. The firm had revenue of $9.91 billion during 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 revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $1.67 EPS. As a group, equities research analysts predict that Philip Morris International will post 6.51 earnings per share for the current year.

Insider Activity

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. The trade was a 7.29 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

Institutional investors and hedge funds have recently made changes to their positions in the stock. White Lighthouse Investment Management Inc. raised its position in Philip Morris International by 71.4% during the third quarter. White Lighthouse Investment Management Inc. now owns 11,999 shares of the company’s stock valued at $1,457,000 after purchasing an additional 4,999 shares in the last quarter. Accredited Investors Inc. increased its position in shares of Philip Morris International by 3,553.3% during the 3rd quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after purchasing an additional 201,294 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Philip Morris International by 37.5% during the 4th quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock valued at $2,912,000 after buying an additional 6,605 shares in the last quarter. Kennebec Savings Bank bought a new stake in Philip Morris International in the 3rd quarter worth approximately $692,000. Finally, Swiss National Bank boosted its stake in Philip Morris International by 0.4% in the third quarter. Swiss National Bank now owns 4,614,200 shares of the company’s stock worth $560,164,000 after buying an additional 17,700 shares in the last quarter. Hedge funds and other 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.