Philip Morris International (NYSE:PM) PT Raised to $138.00 at Stifel Nicolaus

Philip Morris International (NYSE:PM) had its price target lifted by Stifel Nicolaus from $120.00 to $138.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently issued reports on PM. Deutsche Bank Aktiengesellschaft increased their price objective on Philip Morris International from $116.00 to $118.00 and gave the stock a buy rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price objective on shares of Philip Morris International from $110.00 to $125.00 and gave the company an overweight rating in a research note on Thursday, July 25th. Bank of America upped their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the stock a buy rating in a research report on Wednesday. StockNews.com upgraded shares of Philip Morris International from a hold rating to a buy rating in a research report on Monday, July 22nd. Finally, Barclays upped their price target on Philip Morris International from $110.00 to $130.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. One investment 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. Based on data from MarketBeat, Philip Morris International presently has an average rating of Moderate Buy and an average target price of $113.70.

Philip Morris International Stock Up 0.5 %

Shares of NYSE:PM opened at $125.81 on Wednesday. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $127.45. The firm’s 50-day simple moving average is $113.87 and its 200-day simple moving average is $102.32. The company has a market cap of $195.58 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 2.41 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data 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 company had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, research analysts forecast that Philip Morris International will post 6.45 EPS for the current year.

Insider Transactions at Philip Morris International

In related news, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction 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 transaction, the insider now owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Massimo Andolina sold 9,000 shares of the firm’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 sale, the insider now owns 85,629 shares in the company, valued at approximately $9,877,305.15. 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

Several large investors have recently added to or reduced their stakes in the business. Iron Horse Wealth Management LLC increased its stake in shares of Philip Morris International by 684.4% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 251 shares of the company’s stock valued at $25,000 after acquiring an additional 219 shares during the last quarter. Sachetta LLC increased its position in Philip Morris International by 64.8% during the second quarter. Sachetta LLC now owns 267 shares of the company’s stock worth $27,000 after purchasing an additional 105 shares during the last quarter. Fortitude Family Office LLC raised its stake in Philip Morris International by 57.4% during the second quarter. Fortitude Family Office LLC now owns 318 shares of the company’s stock worth $32,000 after purchasing an additional 116 shares during the period. Boyd Watterson Asset Management LLC OH raised 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 worth $30,000 after purchasing an additional 230 shares during the period. Finally, Olistico Wealth LLC acquired a new position in shares of Philip Morris International in the 2nd quarter valued at $34,000. 78.63% of the stock is currently 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.