Philip Morris International (NYSE:PM) Price Target Raised to $138.00

Philip Morris International (NYSE:PM) had its price target increased by Stifel Nicolaus from $120.00 to $138.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also issued reports on PM. JPMorgan Chase & Co. raised their price objective on Philip Morris International from $110.00 to $125.00 and gave the company an overweight rating in a research note on Thursday, July 25th. StockNews.com raised Philip Morris International from a hold rating to a buy rating in a research note on Monday, July 22nd. Bank of America increased their price target on Philip Morris International from $125.00 to $139.00 and gave the stock a buy rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a buy rating in a report on Thursday, July 25th. Finally, Barclays increased their price target on Philip Morris International from $110.00 to $130.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Philip Morris International presently has an average rating of Moderate Buy and a consensus target price of $113.70.

Philip Morris International Trading Up 0.5 %

Shares of Philip Morris International stock opened at $125.81 on Wednesday. The stock has a 50 day moving average of $113.87 and a 200 day moving average of $102.23. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $127.45. The firm has a market cap of $195.58 billion, a PE ratio of 24.57, a PEG ratio of 2.41 and a beta of 0.55.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the company earned $1.60 EPS. As a group, equities research analysts forecast that Philip Morris International will post 6.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction 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 directly owns 158,447 shares in the company, valued at approximately $17,906,095.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now 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 currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PM. Iron Horse Wealth Management LLC increased 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 acquiring an additional 219 shares during the period. Strategic Financial Concepts LLC acquired a new stake in shares of Philip Morris International in the 2nd quarter worth $25,000. Sachetta LLC boosted its position in shares of Philip Morris International by 64.8% in the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its position 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 worth $30,000 after purchasing an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its position 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 worth $32,000 after purchasing an additional 116 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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.