Philip Morris International (NYSE:PM) Given New $132.00 Price Target at Citigroup

Philip Morris International (NYSE:PM) had its price target lifted by Citigroup from $118.50 to $132.00 in a research report released on Tuesday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

Several other equities research analysts have also recently commented on PM. UBS Group lifted their target price on Philip Morris International from $95.00 to $105.00 and gave the company a sell rating in a research note on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a 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. Stifel Nicolaus raised their target price on shares of Philip Morris International from $120.00 to $138.00 and gave the company a buy rating in a research note on Wednesday, September 4th. Finally, Barclays raised their target price on shares of Philip Morris International from $130.00 to $145.00 and gave the company an overweight rating in a research note on Monday, September 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $122.41.

Philip Morris International Price Performance

Philip Morris International stock opened at $120.14 on Tuesday. The company has a market capitalization of $186.79 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. Philip Morris International has a one year low of $87.23 and a one year high of $128.22. The business has a 50 day simple moving average of $120.84 and a 200 day simple moving average of $107.38.

Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $9.19 billion. During the same quarter last year, the company earned $1.60 EPS. Philip Morris International’s revenue was up 5.6% on a year-over-year basis. Equities analysts anticipate that Philip Morris International will post 6.45 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.49%. Philip Morris International’s dividend payout ratio (DPR) is 95.58%.

Insider Activity

In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction that occurred on 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 sale, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction 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 approximately $17,906,095.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Philip Morris International

A number of institutional investors have recently modified their holdings of PM. Iron Horse Wealth Management LLC boosted its position in shares of Philip Morris International by 684.4% in the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new stake in Philip Morris International during the second quarter worth about $25,000. Sachetta LLC lifted its position in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH lifted its position in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares during the period. Finally, Fortitude Family Office LLC lifted its position in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. Institutional investors own 78.63% of the company’s stock.

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.