Philip Morris International (NYSE:PM) Reaches New 52-Week High at $113.86

Philip Morris International Inc. (NYSE:PM) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $113.86 and last traded at $113.32, with a volume of 569827 shares trading hands. The stock had previously closed at $113.36.

Analysts Set New Price Targets

Several research firms have recently issued reports on PM. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Philip Morris International from $116.00 to $118.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus boosted their price target on shares of Philip Morris International from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Bank of America boosted their price target on shares of Philip Morris International from $110.00 to $118.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and an average target price of $107.80.

Philip Morris International Stock Up 0.9 %

The stock has a market capitalization of $177.87 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58. The stock’s 50 day moving average price is $103.26 and its 200-day moving average price is $96.54.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 10.92% and a negative return on equity of 113.32%. The company had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.4 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were paid a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is presently 101.56%.

Insiders Place Their Bets

In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the business’s 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 transaction, the insider now directly owns 158,447 shares in the company, valued at $17,906,095.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Philip Morris International

Several hedge funds have recently modified their holdings of the stock. Gradient Investments LLC boosted its position in Philip Morris International by 3.8% in the 4th quarter. Gradient Investments LLC now owns 4,137 shares of the company’s stock worth $389,000 after purchasing an additional 153 shares in the last quarter. PFG Advisors increased its holdings in Philip Morris International by 11.2% in the 4th quarter. PFG Advisors now owns 2,790 shares of the company’s stock worth $262,000 after acquiring an additional 282 shares in the last quarter. Strategic Advisors LLC lifted its holdings in Philip Morris International by 4.6% during the fourth quarter. Strategic Advisors LLC now owns 4,440 shares of the company’s stock valued at $418,000 after purchasing an additional 194 shares in the last quarter. Fifth Third Bancorp lifted its stake in Philip Morris International by 2.6% in the 4th quarter. Fifth Third Bancorp now owns 485,280 shares of the company’s stock valued at $45,655,000 after buying an additional 12,419 shares in the last quarter. Finally, Secure Asset Management LLC lifted its position in shares of Philip Morris International by 571.8% in the fourth quarter. Secure Asset Management LLC now owns 15,177 shares of the company’s stock valued at $1,428,000 after acquiring an additional 12,918 shares in the last quarter. 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.