Philip Morris International (NYSE:PM) Shares Up 1% - Here's What Happened

Philip Morris International Inc. (NYSE:PM - Get Free Report)'s share price traded up 1% during mid-day trading on Wednesday . The company traded as high as $175.57 and last traded at $175.91. Approximately 1,986,660 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 5,538,815 shares. The stock had previously closed at $174.08.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup upped their target price on Philip Morris International from $163.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. StockNews.com upgraded Philip Morris International from a "hold" rating to a "buy" rating in a report on Thursday, April 24th. Barclays boosted 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 shares of Philip Morris International from a "hold" rating to a "buy" rating in a report on Friday, March 14th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $166.33.

Philip Morris International Stock Performance

The stock has a fifty day moving average price of $157.95 and a 200-day moving average price of $140.18. The firm has a market cap of $272.98 billion, a PE ratio of 38.97, a PEG ratio of 2.65 and a beta of 0.50.

Philip Morris International (NYSE:PM - Get Free Report) last released 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. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 earnings per share. As a group, equities 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 given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International's dividend payout ratio (DPR) is 111.34%.

Insider Transactions at Philip Morris International

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the company's stock in a transaction that occurred 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 transaction, the insider now directly owns 26,828 shares of the company's stock, valued at $4,103,610.88. This represents a 12.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the transaction, the senior vice president now owns 30,308 shares of the company's stock, valued at approximately $4,584,994.24. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,822 shares of company stock valued at $19,655,585. Corporate insiders own 0.13% of the company's stock.

Institutional Trading of Philip Morris International

Several hedge funds and other institutional investors have recently bought and sold shares of the company. NewSquare Capital LLC boosted its holdings in shares of 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 during the period. McClarren Financial Advisors Inc. bought a new position in shares of Philip Morris International during the fourth quarter worth about $33,000. Pacifica Partners Inc. lifted its position 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 during the last quarter. Redmont Wealth Advisors LLC acquired a new position in Philip Morris International during the 1st quarter valued at about $35,000. Finally, Knuff & Co LLC bought a new position in Philip Morris International in the 4th quarter worth about $36,000. 78.63% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.