Philip Morris International (NYSE:PM) Hits New 12-Month High After Earnings Beat

Philip Morris International Inc. (NYSE:PM)’s stock price hit a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $146.78 and last traded at $140.26, with a volume of 1619991 shares trading hands. The stock had previously closed at $130.98.

The company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 10.35% and a negative return on equity of 117.94%.

Philip Morris International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, December 26th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Wall Street Analysts Forecast Growth

PM has been the subject of several analyst reports. Stifel Nicolaus reissued a “buy” rating and issued 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 upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target on the stock. Finally, Barclays lowered their price objective on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Valley Wealth Managers Inc. grew its holdings in Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Dunhill Financial LLC increased its holdings in Philip Morris International by 203.8% during the 3rd quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after acquiring an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. acquired a new position in Philip Morris International during the fourth quarter worth about $33,000. Sierra Ocean LLC purchased a new stake in shares of Philip Morris International in the fourth quarter valued at about $37,000. Finally, Concord Wealth Partners grew its position in shares of Philip Morris International by 2,709.1% in the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Philip Morris International Trading Up 8.2 %

The firm has a market capitalization of $220.41 billion, a PE ratio of 22.54, a PEG ratio of 2.30 and a beta of 0.55. The stock’s 50 day moving average price is $125.17 and its two-hundred day moving average price is $123.46.

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.