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

Philip Morris International (NYSE:PM) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $118.00 to $135.00 in a research note released on Tuesday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock.

PM has been the topic of several other reports. The Goldman Sachs Group raised their target price on Philip Morris International from $126.00 to $140.00 and gave the stock a buy rating in a report on Thursday, September 26th. StockNews.com raised shares of Philip Morris International from a hold rating to a buy rating in a report on Monday, July 22nd. Barclays lifted their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an overweight rating in a report on Monday, September 9th. Stifel Nicolaus increased their target price on shares of 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, UBS Group lifted their price target on Philip Morris International from $95.00 to $105.00 and gave the company a sell rating in a research note on Monday, September 9th. One equities 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 stock. According to MarketBeat, Philip Morris International currently has an average rating of Moderate Buy and an average target price of $121.45.

Philip Morris International Price Performance

NYSE PM opened at $119.10 on Tuesday. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $128.22. The company has a market cap of $185.15 billion, a price-to-earnings ratio of 23.26, a PEG ratio of 2.37 and a beta of 0.55. The stock’s fifty day moving average price is $120.48 and its 200 day moving average price is $106.45.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 EPS for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $9.47 billion for the quarter, compared to the consensus estimate of $9.19 billion. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. Research analysts expect that Philip Morris International will post 6.45 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30. Philip Morris International’s dividend payout ratio (DPR) is 105.47%.

Insider Transactions at Philip Morris International

In other news, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were 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 of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Massimo Andolina sold 9,000 shares of the business’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 transaction, the insider now directly owns 85,629 shares in the company, valued at $9,877,305.15. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred 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 directly owns 158,447 shares of the company’s stock, valued at approximately $17,906,095.47. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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 company. Vanguard Group Inc. boosted its stake in Philip Morris International by 0.4% during the first quarter. Vanguard Group Inc. now owns 136,556,344 shares of the company’s stock worth $12,511,292,000 after buying an additional 481,636 shares during the period. Capital World Investors lifted its holdings in shares of Philip Morris International by 1.5% in the 1st quarter. Capital World Investors now owns 111,247,656 shares of the company’s stock worth $10,192,510,000 after acquiring an additional 1,684,992 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Philip Morris International by 3.1% during the 1st quarter. Capital Research Global Investors now owns 60,217,039 shares of the company’s stock worth $5,517,085,000 after purchasing an additional 1,800,864 shares during the period. Bank of New York Mellon Corp increased its holdings in Philip Morris International by 16.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,234,478 shares of the company’s stock valued at $1,341,050,000 after purchasing an additional 1,856,551 shares during the last quarter. Finally, Northern Trust Corp raised its position in Philip Morris International by 0.6% in the fourth quarter. Northern Trust Corp now owns 13,126,737 shares of the company’s stock valued at $1,234,963,000 after purchasing an additional 77,820 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

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.