The Goldman Sachs Group Increases Philip Morris International (NYSE:PM) Price Target to $140.00

Philip Morris International (NYSE:PM) had its price target boosted by research analysts at The Goldman Sachs Group from $126.00 to $140.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 16.11% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. StockNews.com raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Stifel Nicolaus raised their target price on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Barclays boosted their price target on Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. Bank of America raised their price objective on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average price target of $119.14.

Philip Morris International Stock Performance

Shares of PM stock opened at $120.58 on Thursday. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $128.22. The firm has a market capitalization of $187.45 billion, a PE ratio of 23.55, a P/E/G ratio of 2.37 and a beta of 0.55. The stock’s 50-day simple moving average is $119.60 and its 200-day simple moving average is $105.57.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter in the prior year, the company earned $1.60 EPS. Philip Morris International’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts forecast that Philip Morris International will post 6.45 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Philip Morris International

Several hedge funds and other institutional investors have recently made changes to their positions in PM. Passive Capital Management LLC. purchased a new stake in Philip Morris International in the 2nd quarter valued at $211,000. Centaurus Financial Inc. grew its holdings in shares of Philip Morris International by 35.6% in the second quarter. Centaurus Financial Inc. now owns 13,333 shares of the company’s stock valued at $1,351,000 after purchasing an additional 3,500 shares during the period. Anchor Investment Management LLC grew its holdings in shares of Philip Morris International by 1.0% in the second quarter. Anchor Investment Management LLC now owns 44,493 shares of the company’s stock valued at $4,508,000 after purchasing an additional 421 shares during the period. University of Texas Texas AM Investment Management Co. increased its position in Philip Morris International by 3,687.7% during the second quarter. University of Texas Texas AM Investment Management Co. now owns 8,901 shares of the company’s stock worth $902,000 after purchasing an additional 8,666 shares during the last quarter. Finally, Heritage Wealth Management Inc. acquired a new position in Philip Morris International in the 2nd quarter valued at about $1,242,000. 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.