Philip Morris International (NYSE:PM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Philip Morris International (NYSE:PM) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.

PM has been the subject of several other reports. Citigroup raised their target price on Philip Morris International from $163.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Needham & Company LLC started coverage on shares of Philip Morris International in a report on Thursday. They set a “buy” rating and a $195.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Friday, March 14th. Finally, Morgan Stanley restated an “overweight” rating and set a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Philip Morris International has a consensus rating of “Moderate Buy” and an average target price of $169.20.

Philip Morris International Price Performance

PM opened at $175.23 on Thursday. Philip Morris International has a fifty-two week low of $98.93 and a fifty-two week high of $176.49. The firm has a market capitalization of $272.75 billion, a P/E ratio of 38.85, a PEG ratio of 2.65 and a beta of 0.50. The company’s 50-day moving average is $162.11 and its 200 day moving average is $143.44.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $1.61 by $0.08. The firm had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.50 EPS. On average, equities research analysts expect that Philip Morris International will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Thursday, March 20th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Thursday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is presently 111.34%.

Insider Activity at Philip Morris International

In related news, insider Lars Dahlgren sold 3,679 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $152.96, for a total transaction of $562,739.84. Following the sale, the insider now owns 26,828 shares of the company’s stock, valued at approximately $4,103,610.88. This represents a 12.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its stake in Philip Morris International by 23.3% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,737 shares of the company’s stock worth $6,828,000 after acquiring an additional 10,703 shares during the last quarter. Empire Life Investments Inc. boosted its position in shares of Philip Morris International by 11.6% during the 4th quarter. Empire Life Investments Inc. now owns 94,423 shares of the company’s stock valued at $11,364,000 after acquiring an additional 9,789 shares during the last quarter. Game Plan Financial Advisors LLC grew its holdings in shares of Philip Morris International by 80.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 7,660 shares of the company’s stock worth $922,000 after purchasing an additional 3,425 shares in the last quarter. Brighton Jones LLC increased its position in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company’s stock worth $1,027,000 after purchasing an additional 2,023 shares during the last quarter. Finally, Symmetry Investments LP bought a new position in shares of Philip Morris International in the fourth quarter worth approximately $1,966,000. 78.63% of the stock is owned by 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.