Piper Jaffray Companies set a $135.00 target price on Philip Morris International Inc (NYSE:PM) in a research report sent to investors on Sunday. The brokerage currently has a buy rating on the stock.
PM has been the subject of a number of other research reports. TheStreet upgraded shares of Philip Morris International from a c+ rating to a b- rating in a research report on Thursday, July 20th. Goldman Sachs Group, Inc. (The) restated a buy rating and set a $133.00 price objective (down previously from $134.00) on shares of Philip Morris International in a research report on Saturday, July 22nd. Cowen and Company restated a buy rating on shares of Philip Morris International in a research report on Sunday, September 24th. BidaskClub downgraded shares of Philip Morris International from a hold rating to a sell rating in a research report on Saturday, August 5th. Finally, Jefferies Group LLC restated a hold rating and set a $120.00 price objective (down previously from $121.00) on shares of Philip Morris International in a research report on Thursday, August 24th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $126.00.
Shares of Philip Morris International (NYSE PM) opened at 112.51 on Friday. Philip Morris International has a 52-week low of $86.78 and a 52-week high of $123.55. The company’s 50-day moving average is $114.38 and its 200 day moving average is $115.78. The firm has a market cap of $174.75 billion, a price-to-earnings ratio of 24.93 and a beta of 0.93.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.09). The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS. On average, analysts expect that Philip Morris International will post $4.84 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s dividend payout ratio (DPR) is currently 94.90%.
In other news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.23% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Philip Morris International by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock valued at $13,092,759,000 after purchasing an additional 2,972,929 shares in the last quarter. BlackRock Inc. grew its stake in Philip Morris International by 2.7% in the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock valued at $10,781,538,000 after acquiring an additional 2,421,533 shares during the last quarter. State Street Corp grew its stake in Philip Morris International by 1.8% in the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock valued at $6,766,079,000 after acquiring an additional 1,058,408 shares during the last quarter. FMR LLC grew its stake in Philip Morris International by 12.5% in the 2nd quarter. FMR LLC now owns 20,919,201 shares of the company’s stock valued at $2,456,960,000 after acquiring an additional 2,330,864 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in Philip Morris International by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock valued at $871,687,000 after acquiring an additional 210,869 shares during the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.
Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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