JPMorgan Chase & Co. Increases Philip Morris International (NYSE:PM) Price Target to $190.00

Philip Morris International (NYSE:PM - Free Report) had its price target lifted by JPMorgan Chase & Co. from $175.00 to $190.00 in a research report sent to investors on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts also recently issued reports on the company. Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Citigroup boosted their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Argus raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They set a "buy" rating on the stock. Finally, Stifel Nicolaus increased their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Philip Morris International presently has a consensus rating of "Moderate Buy" and a consensus price target of $185.73.

Philip Morris International Stock Down 0.7%

Shares of NYSE:PM traded down $1.26 on Thursday, reaching $179.73. 3,430,602 shares of the company's stock were exchanged, compared to its average volume of 5,634,992. The business's 50-day moving average is $178.05 and its two-hundred day moving average is $156.52. Philip Morris International has a fifty-two week low of $104.84 and a fifty-two week high of $186.69. The firm has a market capitalization of $279.75 billion, a price-to-earnings ratio of 37.06, a PEG ratio of 2.63 and a beta of 0.51.

Philip Morris International (NYSE:PM - Get Free Report) last released 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 8.43% and a negative return on equity of 122.40%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the business earned $1.50 earnings per share. Philip Morris International's quarterly revenue was up 5.8% on a year-over-year basis. Analysts predict that Philip Morris International will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.00%. Philip Morris International's payout ratio is currently 111.34%.

Institutional Trading of Philip Morris International

Large investors have recently added to or reduced their stakes in the business. Perigon Wealth Management LLC raised its position in Philip Morris International by 0.4% during the first quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after acquiring an additional 60 shares in the last quarter. TBH Global Asset Management LLC grew its position in shares of Philip Morris International by 0.9% in the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock valued at $1,100,000 after acquiring an additional 61 shares during the period. NFP Retirement Inc. grew its position in shares of Philip Morris International by 2.5% in the 1st quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock valued at $411,000 after acquiring an additional 62 shares during the period. 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 worth $477,000 after purchasing an additional 63 shares during the last quarter. Finally, Renasant Bank raised its holdings in shares of Philip Morris International by 3.3% in the 1st quarter. Renasant Bank now owns 1,994 shares of the company's stock valued at $317,000 after purchasing an additional 63 shares during the period. 78.63% of the stock is currently owned by 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.