Philip Morris International (NYSE:PM) PT Raised to $140.00

Philip Morris International (NYSE:PM) had its price objective upped by equities researchers at The Goldman Sachs Group from $126.00 to $140.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 16.11% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upped their price objective on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Bank of America lifted 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 note on Wednesday, September 4th. Finally, Stifel Nicolaus increased their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus target price of $119.14.

Philip Morris International Price Performance

NYSE:PM opened at $120.58 on Thursday. The company has a market cap of $187.45 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 2.37 and a beta of 0.55. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $128.22. The stock’s 50 day simple moving average is $119.60 and its two-hundred day simple moving average is $105.57.

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

Insider Activity

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

Institutional Investors Weigh In On Philip Morris International

Several institutional investors have recently bought and sold shares of PM. Passive Capital Management LLC. purchased a new stake in shares of Philip Morris International during the 2nd quarter valued at $211,000. Centaurus Financial Inc. increased its position in Philip Morris International by 35.6% during the 2nd quarter. Centaurus Financial Inc. now owns 13,333 shares of the company’s stock valued at $1,351,000 after buying an additional 3,500 shares in the last quarter. Anchor Investment Management LLC raised its stake in Philip Morris International by 1.0% in the second quarter. Anchor Investment Management LLC now owns 44,493 shares of the company’s stock valued at $4,508,000 after buying an additional 421 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its holdings in Philip Morris International by 3,687.7% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 8,901 shares of the company’s stock worth $902,000 after acquiring an additional 8,666 shares in the last quarter. Finally, Heritage Wealth Management Inc. purchased a new stake in shares of Philip Morris International during the second quarter worth about $1,242,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.