Deutsche Bank Aktiengesellschaft Raises Philip Morris International (NYSE:PM) Price Target to $135.00

Philip Morris International (NYSE:PM) had its price objective raised by Deutsche Bank Aktiengesellschaft from $118.00 to $135.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on the company. UBS Group upped their price objective on Philip Morris International from $95.00 to $105.00 and gave the stock a sell rating in a research note on Monday, September 9th. The Goldman Sachs Group upped their price objective on Philip Morris International from $126.00 to $140.00 and gave the stock a buy rating in a research note on Thursday, September 26th. Bank of America upped their price objective on Philip Morris International from $125.00 to $139.00 and gave the stock a buy rating in a research note on Wednesday, September 4th. Stifel Nicolaus upped their price objective on Philip Morris International from $120.00 to $138.00 and gave the stock a buy rating in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. upped their price objective on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $121.45.

Philip Morris International Trading Down 1.0 %

Shares of NYSE PM opened at $118.35 on Tuesday. Philip Morris International has a twelve month low of $87.23 and a twelve month high of $128.22. The company has a market capitalization of $183.98 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 2.37 and a beta of 0.55. The business has a 50 day simple moving average of $120.36 and a 200-day simple moving average of $106.28.

Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, beating 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 business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same period in the previous year, the business earned $1.60 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts predict that Philip Morris International will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Thursday, September 26th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Thursday, September 26th. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s payout ratio is 105.47%.

Insider Activity

In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on 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 sale, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wilde Frederic De sold 20,000 shares of the company’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 sale, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.

Institutional Investors Weigh In On Philip Morris International

Hedge funds have recently modified their holdings of the stock. Iron Horse Wealth Management LLC lifted its holdings in shares of 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 purchasing an additional 219 shares during the last quarter. Sachetta LLC lifted its holdings in shares of Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock valued at $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in shares of Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock valued at $32,000 after purchasing an additional 116 shares during the last quarter. Boyd Watterson Asset Management LLC OH lifted its holdings in shares of 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 purchasing an additional 230 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new stake in shares of Philip Morris International during the second quarter valued at $34,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.