Philip Morris International (NYSE:PM) PT Raised to $118.00 at Bank of America

Philip Morris International (NYSE:PM) had its target price boosted by Bank of America from $110.00 to $118.00 in a research report released on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

PM has been the subject of a number of other research reports. Stifel Nicolaus raised their price objective on Philip Morris International from $115.00 to $120.00 and gave the stock a buy rating in a research report on Wednesday. StockNews.com upgraded Philip Morris International from a hold rating to a buy rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $107.80.

Philip Morris International Price Performance

Philip Morris International stock opened at $113.36 on Wednesday. The stock has a market capitalization of $176.22 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.30 and a beta of 0.58. Philip Morris International has a 1-year low of $87.23 and a 1-year high of $113.68. The business has a fifty day moving average price of $103.26 and a 200-day moving average price of $96.53.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The firm had revenue of $9.47 billion during the quarter, compared to analysts’ expectations of $9.19 billion. Philip Morris International had a negative return on equity of 113.32% and a net margin of 10.92%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.60 EPS. On average, equities research analysts anticipate that Philip Morris International will post 6.39 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Shareholders of record on Friday, June 21st were paid a dividend of $1.30 per share. The ex-dividend date was Friday, June 21st. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.59%. Philip Morris International’s payout ratio is currently 101.56%.

Hedge Funds Weigh In On Philip Morris International

A number of institutional investors have recently modified their holdings of the stock. HB Wealth Management LLC raised its stake in shares of Philip Morris International by 23.4% during the 2nd quarter. HB Wealth Management LLC now owns 43,866 shares of the company’s stock valued at $4,445,000 after buying an additional 8,309 shares during the last quarter. Fort Pitt Capital Group LLC raised its stake in shares of Philip Morris International by 27.0% during the 2nd quarter. Fort Pitt Capital Group LLC now owns 3,022 shares of the company’s stock valued at $306,000 after buying an additional 643 shares during the last quarter. Trajan Wealth LLC raised its stake in shares of Philip Morris International by 15.0% during the 2nd quarter. Trajan Wealth LLC now owns 57,979 shares of the company’s stock valued at $5,875,000 after buying an additional 7,553 shares during the last quarter. Ballast Advisors LLC purchased a new position in shares of Philip Morris International in the 2nd quarter valued at about $210,000. Finally, Harbour Investments Inc. increased its stake in shares of Philip Morris International by 6.0% in the 2nd quarter. Harbour Investments Inc. now owns 11,418 shares of the company’s stock valued at $1,157,000 after purchasing an additional 647 shares in the last quarter. 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.