Philip Morris International (NYSE:PM) Given New $145.00 Price Target at Barclays

Philip Morris International (NYSE:PM) had its price objective trimmed by Barclays from $155.00 to $145.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other research analysts have also recently commented on the company. The Goldman Sachs Group upped their price target on Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. UBS Group upped their price target on Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Citigroup upped their price target on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.39.

Philip Morris International Price Performance

Shares of NYSE:PM opened at $117.25 on Wednesday. The company has a market capitalization of $182.30 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 2.22 and a beta of 0.54. The business has a fifty day moving average price of $126.34 and a two-hundred day moving average price of $120.58. Philip Morris International has a 1 year low of $87.82 and a 1 year high of $134.15.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.68 billion. Philip Morris International had a negative return on equity of 117.94% and a net margin of 10.35%. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 EPS. Sell-side analysts anticipate that Philip Morris International will post 6.51 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Thursday, December 26th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $5.40 annualized dividend and a dividend yield of 4.61%. Philip Morris International’s payout ratio is currently 85.71%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, Chairman Andre Calantzopoulos sold 101,918 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $129.85, for a total value of $13,234,052.30. Following the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. This trade represents a 9.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $129.98, for a total value of $974,850.00. Following the transaction, the insider now owns 95,418 shares in the company, valued at $12,402,431.64. This trade represents a 7.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Philip Morris International

Institutional investors have recently modified their holdings of the company. State Street Corp grew its position in Philip Morris International by 0.4% during the 3rd quarter. State Street Corp now owns 54,711,621 shares of the company’s stock worth $6,715,237,000 after acquiring an additional 224,840 shares during the last quarter. Geode Capital Management LLC grew its position in Philip Morris International by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock worth $3,886,818,000 after acquiring an additional 621,034 shares during the last quarter. FMR LLC grew its position in Philip Morris International by 40.9% during the 3rd quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after acquiring an additional 6,721,094 shares during the last quarter. Franklin Resources Inc. grew its position in Philip Morris International by 3.0% during the 3rd quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock worth $1,560,752,000 after acquiring an additional 376,406 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its position in Philip Morris International by 7.4% during the 2nd quarter. First Eagle Investment Management LLC now owns 10,655,948 shares of the company’s stock worth $1,079,767,000 after acquiring an additional 736,961 shares during the last quarter. 78.63% of the stock is currently owned by 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.