Philip Morris International (NYSE:PM) Reaches New 52-Week High on Analyst Upgrade

Philip Morris International Inc. (NYSE:PM) shares hit a new 52-week high on Monday after UBS Group raised their price target on the stock from $95.00 to $105.00. UBS Group currently has a sell rating on the stock. Philip Morris International traded as high as $127.53 and last traded at $127.50, with a volume of 1043114 shares trading hands. The stock had previously closed at $125.81.

A number of other research firms also recently weighed in on PM. JPMorgan Chase & Co. boosted their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the stock 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 stock a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus lifted their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Finally, Barclays lifted their price target on Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday. 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $117.05.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of the stock in a transaction on 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 transaction, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Wilde Frederic De sold 20,000 shares of the business’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 transaction of $2,260,200.00. Following the sale, the insider now directly 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 the SEC website. Also, 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 value of $1,038,150.00. Following the completion of the transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Philip Morris International

Several institutional investors have recently bought and sold shares of the business. Iron Horse Wealth Management LLC grew its position in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock worth $25,000 after buying an additional 219 shares during the period. Strategic Financial Concepts LLC bought a new stake in shares of Philip Morris International in the 2nd quarter valued at $25,000. Sachetta LLC raised its stake in Philip Morris International by 64.8% during the 2nd quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after buying an additional 105 shares during the period. Boyd Watterson Asset Management LLC OH lifted its holdings in Philip Morris International by 250.0% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 322 shares of the company’s stock worth $30,000 after acquiring an additional 230 shares in the last quarter. Finally, Fortitude Family Office LLC grew its stake in Philip Morris International by 57.4% in the second 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 own 78.63% of the company’s stock.

Philip Morris International Price Performance

The stock’s 50-day moving average price is $113.87 and its 200 day moving average price is $102.40. The firm has a market cap of $198.24 billion, a P/E ratio of 24.88, a price-to-earnings-growth ratio of 2.45 and a beta of 0.55.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts forecast that Philip Morris International Inc. will post 6.47 EPS for the current fiscal year.

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.