Philip Morris International (NYSE:PM) Stock Rated Neutral in New Coverage at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Philip Morris International (NYSE:PM) in a research note released on Tuesday morning, MarketBeat reports. The firm issued a neutral rating and a $200.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. UBS Group raised their price objective on shares of Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Citigroup upped their target price on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Stifel Nicolaus increased their price target on shares of Philip Morris International from $205.00 to $232.00 and gave the stock a “buy” rating in a research report on Tuesday, November 3rd. Barclays increased their price target on shares of Philip Morris International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. Finally, BTIG Research set a $221.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average price target of $213.90.

Philip Morris International Trading Up 0.5%

Shares of NYSE PM opened at $197.42 on Tuesday. The firm has a market capitalization of $307.71 billion, a price-to-earnings ratio of 28.82, a PEG ratio of 2.63 and a beta of 0.34. Philip Morris International has a one year low of $146.35 and a one year high of $214.35. The business has a fifty day simple moving average of $196.09 and a 200 day simple moving average of $183.28.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.06. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.24 earnings per share. On average, research analysts anticipate that Philip Morris International will post 8.32 earnings per share for the current fiscal year.

Philip Morris International Increases Dividend

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

Institutional Trading of Philip Morris International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Philip Morris International by 30.9% during the second quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock worth $2,111,198,000 after acquiring an additional 2,755,662 shares in the last quarter. Teamwork Financial Advisors LLC raised its holdings in shares of Philip Morris International by 2,662.6% during the second quarter. Teamwork Financial Advisors LLC now owns 65,695 shares of the company’s stock worth $11,885,000 after acquiring an additional 63,317 shares during the period. Perennial Investment Advisors LLC bought a new stake in Philip Morris International in the 2nd quarter valued at $505,000. Orographic Financial Advisors LLC bought a new stake in Philip Morris International in the 1st quarter valued at $1,205,000. Finally, Principal Financial Group Inc. boosted its stake in Philip Morris International by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 1,749,744 shares of the company’s stock worth $289,303,000 after purchasing an additional 9,047 shares during the period. 78.63% of the stock is currently owned by institutional investors and hedge funds.

About Philip Morris International

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.