Philip Morris International (NYSE:PM) Given New $140.00 Price Target at The Goldman Sachs Group

Philip Morris International (NYSE:PM) had its price objective boosted by The Goldman Sachs Group from $126.00 to $140.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Barclays increased their price target on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an overweight rating in a research report on Monday, September 9th. UBS Group lifted their target price on Philip Morris International from $95.00 to $105.00 and gave the company a sell rating in a research report on Monday, September 9th. JPMorgan Chase & Co. upped their price target on Philip Morris International from $110.00 to $125.00 and gave the stock an overweight rating in a research report 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 report on Thursday, July 25th. Finally, Bank of America boosted 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, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $119.14.

Philip Morris International Price Performance

NYSE PM opened at $120.62 on Thursday. The stock has a market capitalization of $187.51 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 2.37 and a beta of 0.55. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $128.22. The business’s fifty day moving average price is $119.60 and its 200-day moving average price is $105.65.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.19 billion. During the same period last year, the firm posted $1.60 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities research analysts anticipate that Philip Morris International will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Thursday, September 26th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 4.48%. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date is Thursday, September 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 105.47%.

Insiders Place Their Bets

In other news, insider Massimo Andolina sold 9,000 shares of the firm’s 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 transaction, the insider now owns 85,629 shares in the company, valued at $9,877,305.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $2,260,200.00. Following the completion of the transaction, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

Several hedge funds have recently made changes to their positions in the business. Longfellow Investment Management Co. LLC raised its position in Philip Morris International by 0.7% during the second quarter. Longfellow Investment Management Co. LLC now owns 12,888 shares of the company’s stock valued at $1,306,000 after purchasing an additional 88 shares during the period. Dearborn Partners LLC raised its holdings in Philip Morris International by 3.2% during the 2nd quarter. Dearborn Partners LLC now owns 2,867 shares of the company’s stock valued at $291,000 after buying an additional 89 shares during the period. LRI Investments LLC lifted its position in Philip Morris International by 1.5% in the second quarter. LRI Investments LLC now owns 6,287 shares of the company’s stock worth $637,000 after buying an additional 92 shares during the last quarter. Cahill Financial Advisors Inc. boosted its stake in Philip Morris International by 4.5% during the second quarter. Cahill Financial Advisors Inc. now owns 2,294 shares of the company’s stock worth $232,000 after buying an additional 99 shares during the period. Finally, Pekin Hardy Strauss Inc. increased its position in Philip Morris International by 0.3% during the second quarter. Pekin Hardy Strauss Inc. now owns 28,913 shares of the company’s stock valued at $2,930,000 after acquiring an additional 99 shares during the last quarter. 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.