Philip Morris International (NYSE:PM) Reaches New 1-Year High Following Analyst Upgrade

Philip Morris International Inc. (NYSE:PM - Get Free Report)'s share price reached a new 52-week high during trading on Thursday after Citigroup raised their price target on the stock from $163.00 to $180.00. Citigroup currently has a buy rating on the stock. Philip Morris International traded as high as $163.44 and last traded at $163.22, with a volume of 1343462 shares changing hands. The stock had previously closed at $160.48.

Several other analysts also recently issued reports on the stock. UBS Group upped their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the company a "sell" rating in a report on Friday, February 7th. Barclays raised their price target on Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Morgan Stanley initiated coverage on Philip Morris International in a research note on Thursday, January 16th. They set an "overweight" rating and a $140.00 price objective on the stock. Stifel Nicolaus upped their target price on shares of Philip Morris International from $160.00 to $168.00 and gave the company a "buy" rating in a report on Thursday, April 10th. Finally, StockNews.com cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Philip Morris International has an average rating of "Moderate Buy" and a consensus target price of $150.78.

Insider Activity

In other news, SVP Yann Guerin sold 2,500 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $151.28, for a total transaction of $378,200.00. Following the completion of the sale, the senior vice president now owns 30,308 shares in the company, valued at approximately $4,584,994.24. The trade was a 7.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the sale, the chairman now directly owns 561,349 shares of the company's stock, valued at approximately $83,674,681.94. This trade represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 131,822 shares of company stock valued at $19,655,585 in the last ninety days. Company insiders own 0.13% of the company's stock.

Institutional Trading of Philip Morris International

Several large investors have recently added to or reduced their stakes in PM. Morse Asset Management Inc acquired a new stake in Philip Morris International in the third quarter valued at approximately $206,000. McIlrath & Eck LLC lifted its holdings in Philip Morris International by 38.5% in the 3rd quarter. McIlrath & Eck LLC now owns 561 shares of the company's stock worth $68,000 after buying an additional 156 shares in the last quarter. Anchor Investment Management LLC boosted its position in Philip Morris International by 3.5% in the 3rd quarter. Anchor Investment Management LLC now owns 46,037 shares of the company's stock valued at $5,589,000 after buying an additional 1,544 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its position in shares of Philip Morris International by 225.4% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 23,379 shares of the company's stock worth $2,841,000 after acquiring an additional 16,194 shares during the last quarter. Finally, World Investment Advisors LLC lifted its stake in shares of Philip Morris International by 567.0% in the third quarter. World Investment Advisors LLC now owns 50,672 shares of the company's stock worth $6,152,000 after acquiring an additional 43,075 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Trading Up 1.0 %

The business has a 50 day simple moving average of $154.05 and a two-hundred day simple moving average of $136.46. The stock has a market cap of $255.05 billion, a price-to-earnings ratio of 36.30, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating analysts' consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Research analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.30%. Philip Morris International's dividend payout ratio (DPR) is 119.73%.

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.