Philip Morris International (NYSE:PM) Raised to Moderate Buy at Needham & Company LLC

Needham & Company LLC upgraded shares of Philip Morris International (NYSE:PM - Free Report) to a moderate buy rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. They currently have $195.00 price target on the stock.

Several other equities research analysts have also commented on the company. Morgan Stanley reissued an "overweight" rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Stifel Nicolaus boosted their price target on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research note on Thursday, April 24th. Finally, Barclays upped their target price on Philip Morris International from $175.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $169.20.

Philip Morris International Price Performance

NYSE PM traded up $3.00 on Thursday, hitting $178.23. 6,162,362 shares of the company's stock were exchanged, compared to its average volume of 5,610,981. The firm's 50-day moving average price is $162.60 and its two-hundred day moving average price is $143.89. Philip Morris International has a fifty-two week low of $98.93 and a fifty-two week high of $178.70. The firm has a market cap of $277.41 billion, a price-to-earnings ratio of 39.52, a P/E/G ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $9.10 billion. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 EPS. On average, research 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 declared a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio is presently 111.34%.

Insider Transactions at Philip Morris International

In other news, insider Lars Dahlgren sold 3,679 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the completion of the sale, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This represents a 12.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.13% of the company's stock.

Institutional Trading of Philip Morris International

Institutional investors and hedge funds have recently made changes to their positions in the company. Kelly Lawrence W & Associates Inc. CA acquired a new stake in Philip Morris International in the 1st quarter valued at $30,000. NewSquare Capital LLC increased its holdings in Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd acquired a new stake in Philip Morris International in the 1st quarter valued at $34,000. Pacifica Partners Inc. increased its holdings in Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Finally, Redmont Wealth Advisors LLC acquired a new stake in Philip Morris International in the 1st quarter valued at $35,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

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.