Philip Morris International (NYSE:PM) Sets New 12-Month High - Here's Why

Philip Morris International Inc. (NYSE:PM - Get Free Report)'s stock price hit a new 52-week high on Friday . The company traded as high as $180.04 and last traded at $179.95, with a volume of 869969 shares traded. The stock had previously closed at $177.87.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup upped their price target on Philip Morris International from $163.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and upped their price target for the stock from $130.00 to $170.00 in a report on Friday, April 25th. Barclays upped their price target on Philip Morris International from $175.00 to $205.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. upped their price target on Philip Morris International from $145.00 to $160.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Philip Morris International has an average rating of "Moderate Buy" and an average price target of $169.20.

Philip Morris International Stock Performance

The stock has a market cap of $281.32 billion, a P/E ratio of 40.08, a P/E/G ratio of 2.65 and a beta of 0.50. The business has a 50 day simple moving average of $165.26 and a 200-day simple moving average of $145.89.

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

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Insider Buying and Selling at Philip Morris International

In other news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 26,828 shares of the company's stock, valued at $4,103,610.88. This trade represents a 12.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Philip Morris International

A number of large investors have recently made changes to their positions in PM. Vanguard Group Inc. raised its position in shares of Philip Morris International by 0.9% in the first quarter. Vanguard Group Inc. now owns 140,621,675 shares of the company's stock worth $22,320,878,000 after buying an additional 1,189,283 shares in the last quarter. Capital World Investors raised its position in shares of Philip Morris International by 3.6% in the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after buying an additional 4,216,586 shares in the last quarter. GQG Partners LLC raised its position in shares of Philip Morris International by 14.3% in the fourth quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after buying an additional 6,092,558 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock worth $4,241,837,000 after buying an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Philip Morris International by 26.4% in the first quarter. Wellington Management Group LLP now owns 21,840,422 shares of the company's stock worth $3,466,730,000 after buying an additional 4,563,632 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Philip Morris International Company Profile

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.