Philip Morris International (NYSE:PM) Given New $103.00 Price Target at UBS Group

by · The Cerbat Gem

Philip Morris International (NYSE:PM – Free Report) had its price objective lowered by UBS Group from $105.00 to $103.00 in a report released on Tuesday morning, Benzinga reports. The brokerage currently has a sell rating on the stock.

PM has been the subject of several other reports. Barclays increased their price target on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $118.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. raised 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. Stifel Nicolaus raised their price target on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Bank of America raised their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and an average target price of $123.95.

Check Out Our Latest Research Report on PM

Philip Morris International Trading Down 0.6 %

PM stock opened at $120.12 on Tuesday. The company has a market capitalization of $186.73 billion, a P/E ratio of 23.46, a PEG ratio of 2.35 and a beta of 0.55. Philip Morris International has a twelve month low of $87.23 and a twelve month high of $128.22. The business has a 50 day simple moving average of $121.27 and a 200-day simple moving average of $108.18.

Philip Morris International (NYSE:PM – Get Free Report) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.60 earnings per share. Research analysts predict that Philip Morris International will post 6.45 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were paid a $1.35 dividend. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 annualized dividend and a dividend yield of 4.50%. The ex-dividend date was Thursday, September 26th. Philip Morris International’s payout ratio is currently 105.47%.

Insider Activity

In other 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 transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International 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 directly owns 158,447 shares in the company, valued at $17,906,095.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. 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

Hedge funds and other institutional investors have recently bought and sold shares of the business. Diversify Advisory Services LLC bought a new stake in shares of Philip Morris International in the 1st quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC increased its holdings in shares of Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after acquiring an additional 6,974 shares during the last quarter. Duality Advisers LP increased its holdings in shares of Philip Morris International by 165.6% in the 1st quarter. Duality Advisers LP now owns 38,644 shares of the company’s stock valued at $3,541,000 after acquiring an additional 24,093 shares during the last quarter. Farmers Trust Co. increased its holdings in shares of Philip Morris International by 425.3% in the 1st quarter. Farmers Trust Co. now owns 33,187 shares of the company’s stock valued at $3,041,000 after acquiring an additional 26,869 shares during the last quarter. Finally, New Mexico Educational Retirement Board increased its holdings in shares of Philip Morris International by 11.5% in the 1st quarter. New Mexico Educational Retirement Board now owns 90,111 shares of the company’s stock valued at $8,465,000 after acquiring an additional 9,300 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

About Philip Morris International

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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.

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