Analysts Set Philip Morris International Inc. (NYSE:PM) Price Target at $189.00

Shares of Philip Morris International Inc. (NYSE:PM) have earned a consensus rating of “Moderate Buy” from the thirteen analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $189.00.

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays cut their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Finally, Stifel Nicolaus set a $180.00 target price on shares of Philip Morris International in a report on Tuesday, October 21st.

Philip Morris International Stock Up 2.4%

Philip Morris International stock opened at $162.61 on Wednesday. The company’s 50-day moving average price is $155.63 and its 200-day moving average price is $162.29. Philip Morris International has a twelve month low of $116.12 and a twelve month high of $186.69. The company has a market cap of $253.13 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.71 and a beta of 0.40.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The firm had revenue of $8.12 billion during the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. As a group, sell-side analysts expect that Philip Morris International will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th will be paid a $1.47 dividend. The ex-dividend date of this dividend is Friday, December 26th. This represents a $5.88 annualized dividend and a yield of 3.6%. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Institutional Investors Weigh In On Philip Morris International

Several hedge funds and other institutional investors have recently modified their holdings of the business. Brighton Jones LLC increased its stake in 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 period. Revolve Wealth Partners LLC increased its stake in Philip Morris International by 4.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 2,097 shares of the company’s stock worth $252,000 after buying an additional 91 shares during the period. Fred Alger Management LLC lifted its holdings in Philip Morris International by 9.2% during the 1st quarter. Fred Alger Management LLC now owns 35,359 shares of the company’s stock valued at $5,658,000 after buying an additional 2,969 shares in the last quarter. Empowered Funds LLC lifted its holdings in Philip Morris International by 29.9% during the 1st quarter. Empowered Funds LLC now owns 159,906 shares of the company’s stock valued at $25,382,000 after buying an additional 36,767 shares in the last quarter. Finally, Woodline Partners LP boosted its position in Philip Morris International by 40.7% in the 1st quarter. Woodline Partners LP now owns 131,362 shares of the company’s stock valued at $20,851,000 after buying an additional 37,988 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

About Philip Morris International

Philip Morris International Inc (NYSE: PM) is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI’s product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.