Barclays upgraded shares of Philip Morris International (NYSE:PM) from an equal weight rating to an overweight rating in a research note released on Friday morning, BenzingaRatingsTable reports. The firm currently has $100.00 price target on the stock, up from their prior price target of $82.00.
A number of other research firms have also recently issued reports on PM. Zacks Investment Research upgraded shares of Investors Real Estate Trust Reit from a sell rating to a hold rating in a report on Thursday, May 23rd. Bank of America set a $120.00 target price on shares of Walmart and gave the company a buy rating in a research note on Friday, May 17th. Societe Generale upgraded shares of Philip Morris International from a hold rating to a buy rating in a research note on Tuesday, May 7th. ValuEngine lowered shares of United Rentals from a sell rating to a strong sell rating in a report on Thursday. Finally, Citigroup boosted their price target on shares of Philip Morris International from $90.00 to $102.00 and gave the stock a buy rating in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company’s stock. Philip Morris International currently has a consensus rating of Buy and an average target price of $93.00.
PM stock opened at $88.73 on Friday. Philip Morris International has a 52-week low of $64.67 and a 52-week high of $92.74. The company’s 50-day moving average price is $79.17. The company has a market capitalization of $138.05 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.20 and a beta of 0.96.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Shareholders of record on Friday, June 21st were given a dividend of $1.14 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $4.56 annualized dividend and a yield of 5.14%. Philip Morris International’s dividend payout ratio (DPR) is presently 89.41%.
In other news, Director Louis C. Camilleri sold 70,000 shares of the business’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $83.54, for a total transaction of $5,847,800.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Michael R. Kunst acquired 1,000 shares of the stock in a transaction dated Friday, May 31st. The shares were purchased at an average price of $79.66 per share, for a total transaction of $79,660.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 4,000 shares of company stock worth $331,705 over the last three months. Insiders own 0.21% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in PM. Claybrook Capital LLC acquired a new position in Philip Morris International in the 4th quarter valued at about $39,000. Clarfeld Financial Advisors LLC acquired a new position in Philip Morris International in the 4th quarter valued at about $40,000. CX Institutional grew its stake in Philip Morris International by 432.1% in the 1st quarter. CX Institutional now owns 447 shares of the company’s stock valued at $40,000 after buying an additional 363 shares during the last quarter. HMS Capital Management LLC acquired a new position in Philip Morris International in the 2nd quarter valued at about $46,000. Finally, Shamrock Asset Management LLC grew its stake in Philip Morris International by 53.9% in the 1st quarter. Shamrock Asset Management LLC now owns 571 shares of the company’s stock valued at $50,000 after buying an additional 200 shares during the last quarter. Institutional investors own 73.46% of the company’s stock.
Philip Morris International Company Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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