Philip Morris International (NYSE:PM) Price Target Raised to $145.00

Philip Morris International (NYSE:PM) had its price target raised by analysts at Barclays from $130.00 to $145.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 14.36% from the company’s current price.

Several other analysts also recently weighed in on the company. Stifel Nicolaus boosted their target price on Philip Morris International from $120.00 to $138.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their target price on Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Bank of America boosted their price target on Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, StockNews.com upgraded Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $115.20.

Philip Morris International Stock Performance

NYSE PM traded up $0.98 during trading on Monday, reaching $126.79. 237,514 shares of the company’s stock were exchanged, compared to its average volume of 5,288,305. The stock has a market cap of $197.13 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55. The company has a 50 day moving average price of $113.87 and a two-hundred day moving average price of $102.40. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $127.45.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. Philip Morris International’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 EPS. Research analysts forecast that Philip Morris International will post 6.47 EPS for the current fiscal year.

Insider Buying and Selling at Philip Morris International

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Wilde Frederic De sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Philip Morris International

A number of hedge funds have recently made changes to their positions in PM. Iron Horse Wealth Management LLC boosted its holdings in shares of Philip Morris International by 684.4% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after purchasing an additional 219 shares during the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC raised its stake in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after acquiring an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH raised its stake in shares of Philip Morris International by 250.0% in the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock valued at $30,000 after acquiring an additional 230 shares during the period. Finally, Fortitude Family Office LLC raised its stake in shares of Philip Morris International by 57.4% in the 2nd quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds 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.