Philip Morris International (NYSE:PM) Given New $138.00 Price Target at Stifel Nicolaus

Philip Morris International (NYSE:PM) had its target price boosted by Stifel Nicolaus from $120.00 to $138.00 in a research report released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

PM has been the subject of a number of other research reports. StockNews.com raised Philip Morris International from a hold rating to a buy rating in a research report on Monday, July 22nd. JPMorgan Chase & Co. lifted 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, July 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Philip Morris International from $116.00 to $118.00 and gave the company a buy rating in a research note on Thursday, July 25th. Bank of America lifted their price objective on Philip Morris International from $125.00 to $139.00 and gave the company a buy rating in a research note on Wednesday. Finally, Barclays lifted their price objective on Philip Morris International from $110.00 to $130.00 and gave the company an overweight rating in a research note on Wednesday, August 14th. One investment 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. According to data from MarketBeat.com, Philip Morris International currently has a consensus rating of Moderate Buy and an average target price of $113.70.

Philip Morris International Stock Performance

Shares of PM opened at $125.81 on Wednesday. The stock has a 50-day moving average of $113.87 and a two-hundred day moving average of $102.23. Philip Morris International has a one year low of $87.23 and a one year high of $127.45. The stock has a market cap 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.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results 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 negative return on equity of 113.32% and a net margin of 9.41%. The company had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. Analysts predict that Philip Morris International will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total value of $1,038,150.00. Following the completion of the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Philip Morris International

Hedge funds have recently made changes to their positions in the company. Bank of Nova Scotia grew its position in shares of Philip Morris International by 283.5% in the fourth quarter. Bank of Nova Scotia now owns 1,186,082 shares of the company’s stock valued at $111,583,000 after purchasing an additional 876,790 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in shares of Philip Morris International in the first quarter valued at approximately $5,634,000. Axxcess Wealth Management LLC grew its position in shares of Philip Morris International by 25.4% in the first quarter. Axxcess Wealth Management LLC now owns 34,390 shares of the company’s stock valued at $3,151,000 after purchasing an additional 6,974 shares in the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Philip Morris International in the fourth quarter valued at approximately $857,000. Finally, Pinebridge Investments L.P. grew its position in shares of Philip Morris International by 99.5% in the fourth quarter. Pinebridge Investments L.P. now owns 54,063 shares of the company’s stock valued at $5,087,000 after purchasing an additional 26,960 shares in the last quarter. Institutional investors and hedge funds 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.