Barclays Has Lowered Expectations for Philip Morris International (NYSE:PM) Stock Price

Philip Morris International (NYSE:PM) had its target price decreased by Barclays from $155.00 to $145.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Citigroup upped their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Stifel Nicolaus restated a “buy” rating and set a $145.00 price target (up previously from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. UBS Group increased their price target on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a report on Wednesday, October 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Philip Morris International from $126.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $130.39.

Philip Morris International Trading Up 0.4 %

PM stock opened at $121.85 on Wednesday. Philip Morris International has a 12-month low of $87.82 and a 12-month high of $134.15. The company has a market cap of $189.46 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.22 and a beta of 0.54. The firm has a 50 day moving average of $126.82 and a 200-day moving average of $120.46.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.09. The firm had revenue of $9.91 billion for the quarter, compared to analyst estimates of $9.68 billion. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 EPS. Sell-side analysts forecast that Philip Morris International will post 6.51 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Thursday, December 26th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.43%. Philip Morris International’s dividend payout ratio is currently 85.71%.

Insider Buying and Selling at Philip Morris International

In other news, Chairman Andre Calantzopoulos sold 101,918 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $129.85, for a total transaction of $13,234,052.30. Following the completion of the sale, the chairman now owns 959,761 shares of the company’s stock, valued at $124,624,965.85. The trade was a 9.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Werner Barth sold 7,500 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $129.98, for a total transaction of $974,850.00. Following the completion of the transaction, the insider now directly owns 95,418 shares of the company’s stock, valued at $12,402,431.64. This represents a 7.29 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Hedge Funds Weigh In On Philip Morris International

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of Philip Morris International by 40.9% in the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock worth $2,812,649,000 after buying an additional 6,721,094 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Philip Morris International by 57.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after acquiring an additional 3,363,454 shares in the last quarter. National Bank of Canada FI boosted its holdings in Philip Morris International by 161.6% in the 3rd quarter. National Bank of Canada FI now owns 1,943,460 shares of the company’s stock valued at $235,936,000 after purchasing an additional 1,200,636 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Philip Morris International by 14,611.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 1,173,531 shares of the company’s stock valued at $142,467,000 after purchasing an additional 1,165,554 shares during the last quarter. Finally, Wulff Hansen & CO. lifted its holdings in shares of Philip Morris International by 10,033.0% in the 2nd quarter. Wulff Hansen & CO. now owns 1,039,646 shares of the company’s stock worth $105,347,000 after acquiring an additional 1,029,386 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

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.