UBS Group Boosts Philip Morris International (NYSE:PM) Price Target to $105.00

Philip Morris International (NYSE:PM) had its price objective boosted by UBS Group from $103.00 to $105.00 in a research note released on Wednesday morning, Benzinga reports. UBS Group currently has a sell rating on the stock.

PM has been the subject of a number of other reports. Bank of America upped their price target on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group upped their target price on shares of Philip Morris International from $126.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Barclays boosted their price objective on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Finally, Citigroup increased their target price on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.85.

Philip Morris International Price Performance

Shares of PM stock opened at $129.86 on Wednesday. The company has a market cap of $201.87 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 2.57 and a beta of 0.55. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $133.27. The firm has a fifty day moving average price of $122.50 and a 200-day moving average price of $109.84.

Philip Morris International (NYSE:PM) last released its quarterly 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 business 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 12.10%. Philip Morris International’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 earnings per share. Equities research analysts expect that Philip Morris International will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Thursday, September 26th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a yield of 4.16%. Philip Morris International’s dividend payout ratio is presently 105.47%.

Insider Buying and Selling at Philip Morris International

In related news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were 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 in the company, valued at approximately $124,624,965.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Werner Barth sold 7,500 shares of Philip Morris International stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total value of $974,850.00. Following the completion of the transaction, the insider now owns 95,418 shares in the company, valued at approximately $12,402,431.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total value of $13,234,052.30. Following the transaction, the chairman now directly owns 959,761 shares in the company, valued at approximately $124,624,965.85. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 118,418 shares of company stock worth $15,247,052 in the last quarter. 0.13% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Philip Morris International by 0.4% during the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock valued at $12,511,292,000 after buying an additional 481,636 shares during the period. Capital World Investors boosted its holdings in Philip Morris International by 1.5% during the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock valued at $10,192,510,000 after acquiring an additional 1,684,992 shares during the period. Capital Research Global Investors grew its position in Philip Morris International by 3.1% in the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock valued at $5,517,085,000 after acquiring an additional 1,800,864 shares during the last quarter. Bank of New York Mellon Corp increased 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 worth $1,341,050,000 after purchasing an additional 1,856,551 shares during the period. Finally, First Eagle Investment Management LLC lifted its position in shares of Philip Morris International by 7.4% during the second quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after purchasing an additional 736,961 shares during the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.