Philip Morris International (NYSE:PM) Price Target Raised to $220.00

Philip Morris International (NYSE:PM - Free Report) had its target price boosted by Barclays from $205.00 to $220.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other analysts have also weighed in on the company. Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley restated an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Needham & Company LLC began coverage on Philip Morris International in a report on Thursday, May 22nd. They set a "buy" rating on the stock. Finally, Stifel Nicolaus increased their price target on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus price target of $176.80.

Philip Morris International Price Performance

Shares of NYSE PM traded down $0.09 during midday trading on Friday, reaching $184.01. 5,500,599 shares of the stock traded hands, compared to its average volume of 5,616,006. The stock has a market capitalization of $286.41 billion, a PE ratio of 40.80, a P/E/G ratio of 2.65 and a beta of 0.52. Philip Morris International has a one year low of $98.93 and a one year high of $185.08. The company's 50 day moving average is $169.95 and its 200 day moving average is $148.87.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.08. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The company's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 EPS. As a group, equities analysts forecast that Philip Morris International will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.93%. Philip Morris International's payout ratio is 111.34%.

Institutional Trading of Philip Morris International

A number of hedge funds and other institutional investors have recently bought and sold shares of PM. NewSquare Capital LLC increased its stake in shares of Philip Morris International by 53.7% during the fourth quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after buying an additional 72 shares during the period. Kelly Lawrence W & Associates Inc. CA purchased a new position in shares of Philip Morris International during the first quarter valued at $30,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company's stock valued at $32,000 after buying an additional 162 shares during the period. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Philip Morris International during the first quarter valued at $34,000. Finally, Pacifica Partners Inc. increased its stake in shares of Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after buying an additional 115 shares during the period. Hedge funds and other 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.