JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Philip Morris International (NYSE:PM) Stock

Philip Morris International (NYSE:PM) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $145.00 to $160.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 7.11% from the stock’s current price.

Several other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Barclays dropped their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. UBS Group boosted their target price on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Morgan Stanley initiated coverage on Philip Morris International in a research note on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. Finally, Stifel Nicolaus upped their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.22.

Philip Morris International Price Performance

NYSE PM traded down $1.09 during trading on Tuesday, hitting $149.38. 593,571 shares of the company’s stock traded hands, compared to its average volume of 5,337,443. The stock has a fifty day moving average of $127.91 and a two-hundred day moving average of $125.52. Philip Morris International has a 12-month low of $87.82 and a 12-month high of $151.22. The firm has a market cap of $232.25 billion, a P/E ratio of 33.10, a PEG ratio of 2.55 and a beta of 0.55.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 9.24%. As a group, analysts expect that Philip Morris International will post 7.11 earnings per share for the current fiscal year.

Insider Transactions at Philip Morris International

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total value of $749,400.00. Following the transaction, the vice president now owns 20,799 shares in the company, valued at $3,117,354.12. This represents a 19.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Philip Morris International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. White Lighthouse Investment Management Inc. raised its position in shares of Philip Morris International by 71.4% during the 3rd 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 during the period. Range Financial Group LLC raised its holdings in Philip Morris International by 504.9% during the fourth quarter. Range Financial Group LLC now owns 22,915 shares of the company’s stock valued at $2,758,000 after acquiring an additional 19,127 shares during the period. Accredited Investors Inc. lifted its position in shares of Philip Morris International by 3,553.3% in the third quarter. Accredited Investors Inc. now owns 206,959 shares of the company’s stock valued at $25,125,000 after acquiring an additional 201,294 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Philip Morris International by 18.9% in the fourth quarter. Park Avenue Securities LLC now owns 100,826 shares of the company’s stock worth $12,134,000 after acquiring an additional 16,035 shares during the period. Finally, CWA Asset Management Group LLC grew its position in shares of Philip Morris International by 37.5% during the fourth quarter. CWA Asset Management Group LLC now owns 24,200 shares of the company’s stock worth $2,912,000 after purchasing an additional 6,605 shares in 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.