Philip Morris International (NYSE:PM) Reaches New 52-Week High Following Analyst Upgrade

Philip Morris International Inc. (NYSE:PM)’s share price hit a new 52-week high on Thursday after Citigroup raised their price target on the stock from $163.00 to $180.00. Citigroup currently has a buy rating on the stock. Philip Morris International traded as high as $163.44 and last traded at $163.22, with a volume of 1343462 shares trading hands. The stock had previously closed at $160.48.

PM has been the topic of several other research reports. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. UBS Group raised their price objective on Philip Morris International from $105.00 to $120.00 and gave the company a “sell” rating in a report on Friday, February 7th. Morgan Stanley began coverage on shares of Philip Morris International in a report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price for the company. Stifel Nicolaus raised their price target on shares of Philip Morris International from $160.00 to $168.00 and gave the stock a “buy” rating in a research note on Thursday, April 10th. Finally, StockNews.com cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $150.78.

Insider Activity

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 5,000 shares of Philip Morris International stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the sale, the vice president now directly owns 20,799 shares in the company, valued at $3,117,354.12. This trade represents a 19.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the transaction, the senior vice president now owns 30,308 shares in the company, valued at approximately $4,584,994.24. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 131,822 shares of company stock valued at $19,655,585. 0.13% of the stock is currently owned by company insiders.

Institutional Trading of Philip Morris International

Several institutional investors have recently added to or reduced their stakes in the stock. Financial Partners Group LLC purchased a new position in shares of Philip Morris International during the first quarter worth $238,000. Lion Street Advisors LLC lifted its stake in Philip Morris International by 5.6% during the 1st quarter. Lion Street Advisors LLC now owns 4,364 shares of the company’s stock worth $693,000 after acquiring an additional 231 shares in the last quarter. Cornerstone Wealth Management LLC boosted its holdings in Philip Morris International by 6.4% during the 1st quarter. Cornerstone Wealth Management LLC now owns 12,946 shares of the company’s stock valued at $2,055,000 after acquiring an additional 779 shares during the period. Insigneo Advisory Services LLC grew its position in Philip Morris International by 13.0% in the 1st quarter. Insigneo Advisory Services LLC now owns 9,138 shares of the company’s stock valued at $1,450,000 after acquiring an additional 1,053 shares in the last quarter. Finally, Wagner Wealth Management LLC increased its stake in Philip Morris International by 1.0% during the first quarter. Wagner Wealth Management LLC now owns 6,459 shares of the company’s stock worth $1,025,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Stock Up 1.6 %

The firm has a market cap of $253.83 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.65 and a beta of 0.46. The company’s 50-day moving average price is $153.80 and its 200-day moving average price is $135.92.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, sell-side analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Thursday, March 20th were paid a dividend of $1.35 per share. The ex-dividend date was Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.31%. Philip Morris International’s payout ratio is 119.73%.

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.