Philip Morris International (NYSE:PM) Price Target Raised to $220.00

Philip Morris International (NYSE:PM) had its price target increased by Argus from $210.00 to $220.00 in a research report sent to investors on Monday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Several other equities analysts have also weighed in on the stock. Citigroup increased their price objective on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Morgan Stanley lifted their target price on shares of Philip Morris International from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Barclays upped their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. UBS Group increased their price target on shares of Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a report on Thursday, October 22nd. Finally, BTIG Research set a $221.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $209.70.

Philip Morris International Trading Up 0.0%

PM opened at $202.63 on Monday. Philip Morris International has a 1-year low of $142.11 and a 1-year high of $210.45. The stock’s fifty day simple moving average is $193.49 and its 200 day simple moving average is $181.48. The stock has a market cap of $315.82 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 2.61 and a beta of 0.34.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.06. Philip Morris International had a negative return on equity of 183.96% and a net margin of 10.73%. The business had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $11.32 billion. During the same quarter last year, the firm posted $2.24 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Philip Morris International will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were issued a $1.60 dividend. The ex-dividend date of this dividend was Friday, October 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 3.2%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s payout ratio is currently 93.43%.

Institutional Investors Weigh In On Philip Morris International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in Philip Morris International by 0.4% in the 2nd quarter. BlackRock Inc. now owns 108,039,522 shares of the company’s stock valued at $19,545,430,000 after purchasing an additional 444,449 shares during the period. State Street Corp grew its position in shares of Philip Morris International by 1.0% during the 2nd quarter. State Street Corp now owns 55,569,994 shares of the company’s stock worth $10,134,454,000 after purchasing an additional 536,968 shares in the last quarter. GQG Partners LLC bought a new position in shares of Philip Morris International during the second quarter worth approximately $8,220,008,000. Wellington Management Group LLP increased its holdings in shares of Philip Morris International by 3.9% during the second quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company’s stock worth $3,167,041,000 after purchasing an additional 650,587 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of Philip Morris International during the second quarter worth approximately $3,075,267,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Company Profile

Philip Morris International Inc (NYSE:PM) is a global tobacco and nicotine company headquartered in Stamford, Connecticut. It was established as an independent company in 2008 following the separation of Philip Morris International from Altria Group. The company develops, manufactures and markets tobacco, nicotine and other related consumer products primarily outside the United States.

Its portfolio includes internationally recognized cigarette brands such as Marlboro, Parliament, L&M, Chesterfield and Bond Street.