Philip Morris International (NYSE:PM) Hits New 1-Year High - Here's Why

Philip Morris International Inc. (NYSE:PM - Get Free Report) shares hit a new 52-week high on Thursday . The stock traded as high as $184.06 and last traded at $183.21, with a volume of 247821 shares changing hands. The stock had previously closed at $183.37.

Wall Street Analyst Weigh In

PM has been the subject of several analyst reports. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They set a "buy" rating for the company. Stifel Nicolaus raised their price target 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. Citigroup raised their price target on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. UBS Group raised shares of Philip Morris International from a "sell" rating to a "neutral" rating and raised their price target for the company from $130.00 to $170.00 in a research report on Friday, April 25th. Finally, Bank of America raised their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average target price of $175.30.

Philip Morris International Stock Up 0.3%

The company's fifty day moving average is $169.95 and its 200-day moving average is $148.87. The company has a market cap of $286.37 billion, a PE ratio of 40.79, a PEG ratio of 2.65 and a beta of 0.52.

Philip Morris International (NYSE:PM - Get Free Report) last issued 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 net margin of 7.89% and a negative return on equity of 120.08%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the company posted $1.50 earnings per share. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PM. Nuveen LLC purchased a new position in shares of Philip Morris International during the 1st quarter worth $1,712,994,000. GQG Partners LLC lifted its stake in shares of Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock valued at $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Philip Morris International by 26.4% during the 1st quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock valued at $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Philip Morris International by 19,986.5% during the 1st quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock valued at $712,210,000 after buying an additional 4,464,590 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Philip Morris International in the 4th quarter worth $522,214,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

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.