Shares of Philip Morris International Inc. (NYSE:PM) have been assigned an average rating of “Buy” from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $115.73.
PM has been the subject of a number of recent research reports. Citigroup upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, February 28th. They noted that the move was a valuation call. TheStreet cut shares of Philip Morris International from a “b-” rating to a “c+” rating in a research note on Tuesday, March 20th. Deutsche Bank initiated coverage on shares of Philip Morris International in a research note on Tuesday, April 10th. They issued a “buy” rating and a $120.00 price objective for the company. Zacks Investment Research cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Finally, ValuEngine cut shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Thursday, April 19th.
In related news, insider Jerry Whitson acquired 3,000 shares of the firm’s stock in a transaction on Wednesday, April 25th. The shares were purchased at an average price of $82.76 per share, with a total value of $248,280.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Louis C. Camilleri sold 100,000 shares of the stock in a transaction dated Friday, May 11th. The stock was sold at an average price of $82.06, for a total transaction of $8,206,000.00. Following the sale, the director now directly owns 660,172 shares in the company, valued at approximately $54,173,714.32. The disclosure for this sale can be found here. In the last three months, insiders have acquired 49,000 shares of company stock worth $3,989,640. Insiders own 0.22% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Philip Morris International by 2.0% in the 4th quarter. BlackRock Inc. now owns 94,653,614 shares of the company’s stock valued at $10,000,154,000 after purchasing an additional 1,851,721 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Philip Morris International by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 17,494,845 shares of the company’s stock worth $1,848,329,000 after buying an additional 266,461 shares during the period. Geode Capital Management LLC raised its holdings in Philip Morris International by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 16,006,215 shares of the company’s stock worth $1,687,415,000 after buying an additional 423,024 shares during the period. Gardner Russo & Gardner LLC raised its holdings in shares of Philip Morris International by 2.3% in the first quarter. Gardner Russo & Gardner LLC now owns 10,380,319 shares of the company’s stock valued at $1,031,804,000 after purchasing an additional 237,310 shares during the last quarter. Finally, Flossbach Von Storch AG raised its holdings in shares of Philip Morris International by 45.1% in the first quarter. Flossbach Von Storch AG now owns 9,594,407 shares of the company’s stock valued at $953,684,000 after purchasing an additional 2,982,085 shares during the last quarter. 72.27% of the stock is currently owned by institutional investors.
Shares of Philip Morris International traded down $0.54, reaching $79.43, during mid-day trading on Tuesday, Marketbeat.com reports. The company’s stock had a trading volume of 199,543 shares, compared to its average volume of 7,011,874. Philip Morris International has a 1-year low of $76.21 and a 1-year high of $121.69. The stock has a market cap of $124.65 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 1.60 and a beta of 0.88. The company has a debt-to-equity ratio of -2.82, a quick ratio of 0.68 and a current ratio of 1.16.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, April 19th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. The company had revenue of $6.90 billion during the quarter, compared to analysts’ expectations of $7.03 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The business’s revenue was up 13.7% on a year-over-year basis. sell-side analysts predict that Philip Morris International will post 5.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 22nd will be issued a dividend of $1.14 per share. The ex-dividend date of this dividend is Thursday, June 21st. This represents a $4.56 dividend on an annualized basis and a yield of 5.74%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.07. Philip Morris International’s dividend payout ratio is currently 92.49%.
About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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