Bank of America Boosts Philip Morris International (NYSE:PM) Price Target to $139.00

Philip Morris International (NYSE:PM) had its target price lifted by Bank of America from $125.00 to $139.00 in a report published on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

A number of other brokerages have also recently weighed in on PM. Stifel Nicolaus raised their price objective on Philip Morris International from $115.00 to $120.00 and gave the company a buy rating in a report on Wednesday, July 24th. Barclays boosted their price objective on shares of Philip Morris International from $110.00 to $130.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. StockNews.com raised shares of Philip Morris International from a hold rating to a buy rating in a research note on Monday, July 22nd. JPMorgan Chase & Co. increased their target price on Philip Morris International from $110.00 to $125.00 and gave the company an overweight rating in a report on Thursday, July 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $116.00 to $118.00 and gave the stock a buy rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $113.70.

Philip Morris International Price Performance

Shares of PM opened at $125.81 on Wednesday. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $127.45. The company has a market capitalization of $195.58 billion, a P/E ratio of 24.57, a P/E/G ratio of 2.41 and a beta of 0.55. The firm’s 50 day simple moving average is $113.87 and its 200 day simple moving average is $102.23.

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, topping analysts’ consensus estimates of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. On average, equities analysts anticipate that Philip Morris International will post 6.45 earnings per share for the current year.

Insider Buying and Selling

In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the business’s 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 directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Philip Morris International news, insider Massimo Andolina sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Wilde Frederic De sold 20,000 shares of the company’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 value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Institutional Trading of Philip Morris International

A number of hedge funds have recently modified their holdings of PM. Iron Horse Wealth Management LLC lifted its position in Philip Morris International by 684.4% during 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 bought a new position in shares of Philip Morris International during the second quarter valued at approximately $25,000. Sachetta LLC lifted its holdings in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during 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 grew its stake 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 buying an additional 116 shares during the last quarter. Institutional investors own 78.63% of the company’s stock.

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.