Philip Morris International (NYSE:PM) Rating Lowered to "Hold" at Wall Street Zen

Wall Street Zen cut shares of Philip Morris International (NYSE:PM - Free Report) from a buy rating to a hold rating in a report released on Friday.

Other equities analysts have also issued research reports about the company. Citigroup upped their price objective on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. upped their price target on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. UBS Group raised Philip Morris International from a "sell" rating to a "neutral" rating and raised their price objective for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Morgan Stanley reiterated an "overweight" rating and issued a $182.00 target price (up from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Finally, Needham & Company LLC assumed coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $169.20.

Philip Morris International Stock Up 1.2%

Shares of NYSE PM traded up $2.19 during trading on Friday, reaching $182.78. 4,604,627 shares of the company traded hands, compared to its average volume of 5,622,649. The firm has a 50 day simple moving average of $165.26 and a 200-day simple moving average of $145.89. Philip Morris International has a 52-week low of $98.93 and a 52-week high of $182.80. The stock has a market capitalization of $284.49 billion, a PE ratio of 40.53, a P/E/G ratio of 2.65 and a beta of 0.50.

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

Philip Morris International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were paid a $1.35 dividend. The ex-dividend date was Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 2.95%. Philip Morris International's dividend payout ratio is presently 111.34%.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now owns 26,828 shares of the company's stock, valued at approximately $4,103,610.88. The trade was a 12.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Philip Morris International

Several institutional investors have recently made changes to their positions in PM. Perigon Wealth Management LLC grew its stake in Philip Morris International by 0.4% in the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock valued at $2,236,000 after acquiring an additional 60 shares during the last quarter. TBH Global Asset Management LLC lifted its stake in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after purchasing an additional 61 shares during the period. NFP Retirement Inc. boosted its holdings in shares of Philip Morris International by 2.5% during the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock worth $411,000 after purchasing an additional 62 shares during the last quarter. Capital Advisors Wealth Management LLC increased its stake in shares of Philip Morris International by 2.1% during the 1st quarter. Capital Advisors Wealth Management LLC now owns 3,005 shares of the company's stock valued at $477,000 after acquiring an additional 63 shares during the last quarter. Finally, Renasant Bank increased its position in Philip Morris International by 3.3% during the first quarter. Renasant Bank now owns 1,994 shares of the company's stock worth $317,000 after purchasing an additional 63 shares during the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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.