Philip Morris International Inc. (NYSE:PM - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $177.22 and last traded at $176.16, with a volume of 241616 shares trading hands. The stock had previously closed at $175.23.
Wall Street Analysts Forecast Growth
A number of analysts have commented on PM shares. Citigroup increased their price objective on shares of Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Barclays boosted their price objective on Philip Morris International from $175.00 to $205.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research note on Friday, March 14th. Wall Street Zen raised Philip Morris International from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus lifted their target price on Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Philip Morris International currently has an average rating of "Moderate Buy" and a consensus target price of $169.20.
Read Our Latest Stock Report on Philip Morris International
Philip Morris International Price Performance
The stock has a market capitalization of $278.92 billion, a price-to-earnings ratio of 39.75, a PEG ratio of 2.65 and a beta of 0.50. The firm's fifty day moving average is $163.62 and its 200-day moving average is $144.64.
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, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $9.10 billion. During the same period last year, the business posted $1.50 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.
Philip Morris International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, April 10th. Shareholders of record on Thursday, March 20th were paid 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 yield of 3.01%. Philip Morris International's payout ratio is currently 111.34%.
Insider Activity
In related news, insider Lars Dahlgren sold 3,679 shares of Philip Morris International stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $152.96, for a total value of $562,739.84. Following the sale, the insider now directly owns 26,828 shares in the company, valued at $4,103,610.88. This trade represents a 12.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.13% of the company's stock.
Institutional Investors Weigh In On Philip Morris International
Hedge funds have recently made changes to their positions in the business. NewSquare Capital LLC grew its position 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 buying an additional 72 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new position in Philip Morris International in the 1st quarter worth about $30,000. McClarren Financial Advisors Inc. purchased a new position in Philip Morris International during the 4th quarter worth approximately $33,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Philip Morris International in the first quarter valued at $34,000. Finally, Pacifica Partners Inc. boosted its position in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock worth $35,000 after acquiring an additional 115 shares during the period. Institutional investors own 78.63% of the company's stock.
About Philip Morris International
(
Get Free Report)
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.
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