Deutsche Bank Aktiengesellschaft Raises Philip Morris International (NYSE:PM) Price Target to $118.00

Philip Morris International (NYSE:PM) had its price target raised by Deutsche Bank Aktiengesellschaft from $116.00 to $118.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts also recently commented on PM. JPMorgan Chase & Co. upped their price objective on Philip Morris International from $110.00 to $125.00 and gave the company an overweight rating in a research note on Thursday. Bank of America increased their price target on Philip Morris International from $110.00 to $118.00 and gave the stock a buy rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on Philip Morris International from $115.00 to $120.00 and gave the stock a buy rating in a report on Wednesday. Finally, StockNews.com upgraded shares of Philip Morris International from a hold rating to a buy rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Philip Morris International presently has a consensus rating of Moderate Buy and a consensus price target of $107.80.

Philip Morris International Stock Up 0.1 %

Shares of NYSE PM opened at $113.36 on Thursday. The stock’s 50 day moving average price is $103.26 and its 200-day moving average price is $96.53. Philip Morris International has a twelve month low of $87.23 and a twelve month high of $113.68. The company has a market capitalization of $176.22 billion, a PE ratio of 22.14, a PEG ratio of 2.30 and a beta of 0.58.

Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.02. The company had revenue of $9.47 billion during the quarter, compared to analyst estimates of $9.19 billion. Philip Morris International had a net margin of 10.92% and a negative return on equity of 113.32%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, research analysts expect that Philip Morris International will post 6.4 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Friday, June 21st were given a $1.30 dividend. The ex-dividend date of this dividend was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.59%. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

Institutional Trading of Philip Morris International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kessler Investment Group LLC bought a new position in shares of Philip Morris International in the first quarter worth $25,000. Iron Horse Wealth Management LLC boosted its stake in Philip Morris International by 684.4% during the second quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after buying an additional 219 shares during the period. Boyd Watterson Asset Management LLC OH boosted its stake 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 valued at $30,000 after buying an additional 230 shares during the period. Fortitude Family Office LLC raised its holdings 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 valued at $32,000 after acquiring an additional 116 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Philip Morris International in the 4th quarter valued at about $33,000. 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.