Philip Morris International (NYSE:PM) Reaches New 52-Week High at $113.86

Philip Morris International Inc. (NYSE:PM) shares reached a new 52-week high during trading on Monday . The stock traded as high as $113.86 and last traded at $113.32, with a volume of 569827 shares changing hands. The stock had previously closed at $113.36.

Wall Street Analyst Weigh In

Several analysts have recently commented on PM shares. Stifel Nicolaus increased their price target on shares of Philip Morris International from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $116.00 to $118.00 and gave the company a “buy” rating in a report on Thursday. Finally, Bank of America increased their price objective on shares of Philip Morris International from $110.00 to $118.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.80.

Philip Morris International Stock Up 0.9 %

The business’s fifty day moving average is $103.26 and its 200 day moving average is $96.54. The firm has a market capitalization of $177.87 billion, a price-to-earnings ratio of 22.03, a price-to-earnings-growth ratio of 2.27 and a beta of 0.58.

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

Philip Morris International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Friday, June 21st were given a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date of this dividend was Friday, June 21st. Philip Morris International’s dividend payout ratio (DPR) is currently 101.56%.

Insider Activity at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total value of $2,260,200.00. Following the completion of the transaction, the insider now owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.13% of the stock is owned by insiders.

Institutional Trading of Philip Morris International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Nova Scotia raised its stake in Philip Morris International by 283.5% in the 4th quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock worth $111,583,000 after purchasing an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC acquired a new stake in Philip Morris International in the 1st quarter worth about $5,634,000. Axxcess Wealth Management LLC raised its stake in Philip Morris International by 25.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock worth $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Gilliland Jeter Wealth Management LLC acquired a new stake in Philip Morris International in the 4th quarter worth about $1,251,000. Finally, Nebula Research & Development LLC acquired a new stake in Philip Morris International in the 4th quarter worth about $857,000. Institutional investors own 78.63% of the company’s stock.

Philip Morris International Company Profile

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.