Philip Morris International Inc. (NYSE:PM) Sees Significant Decline in Short Interest

Philip Morris International Inc. (NYSE:PM) was the target of a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 7,160,000 shares, a decrease of 28.1% from the January 15th total of 9,960,000 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average trading volume of 5,320,000 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

Several research firms recently commented on PM. Morgan Stanley began coverage on Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. StockNews.com lowered Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group raised their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Finally, Stifel Nicolaus raised their price objective on Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $139.56.

Philip Morris International Trading Up 1.0 %

Shares of PM traded up $1.42 during mid-day trading on Friday, hitting $150.60. 4,777,665 shares of the company’s stock were exchanged, compared to its average volume of 5,552,923. Philip Morris International has a fifty-two week low of $87.82 and a fifty-two week high of $151.22. The firm has a market capitalization of $234.16 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.55 and a beta of 0.55. The business’s 50 day moving average is $127.47 and its two-hundred day moving average is $125.21.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 9.24% and a negative return on equity of 120.08%. On average, equities research analysts forecast that Philip Morris International will post 7.11 earnings per share for the current year.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were given a $1.35 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a yield of 3.59%. Philip Morris International’s payout ratio is currently 119.73%.

Insider Transactions at Philip Morris International

In related news, VP Reginaldo Dobrowolski sold 5,000 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $149.88, for a total value of $749,400.00. Following the transaction, the vice president now owns 20,799 shares of the company’s stock, valued at $3,117,354.12. This represents a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 added to or reduced their stakes in the company. CX Institutional lifted its position in shares of Philip Morris International by 6.7% during the 3rd quarter. CX Institutional now owns 7,562 shares of the company’s stock valued at $918,000 after acquiring an additional 475 shares during the period. Creative Planning lifted its position in shares of Philip Morris International by 5.6% during the 3rd quarter. Creative Planning now owns 365,549 shares of the company’s stock valued at $44,378,000 after acquiring an additional 19,490 shares during the period. Firethorn Wealth Partners LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter valued at approximately $215,000. Fulton Breakefield Broenniman LLC acquired a new stake in shares of Philip Morris International during the 3rd quarter valued at approximately $225,000. Finally, B.O.S.S. Retirement Advisors LLC lifted its position in shares of Philip Morris International by 3.5% during the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 14,457 shares of the company’s stock valued at $1,755,000 after acquiring an additional 486 shares during the period. Institutional investors and hedge funds own 78.63% of the company’s stock.

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.