Philip Morris International (NYSE:PM) Shares Gap Up – What’s Next?

Philip Morris International Inc. (NYSE:PM)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $118.96, but opened at $123.32. Philip Morris International shares last traded at $127.52, with a volume of 1,825,027 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PM shares. UBS Group dropped their price target on Philip Morris International from $105.00 to $103.00 and set a “sell” rating on the stock in a research report on Tuesday, October 15th. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on Philip Morris International from $118.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. Finally, Citigroup increased their price objective on Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.95.

Philip Morris International Stock Up 8.0 %

The company has a market capitalization of $199.76 billion, a price-to-earnings ratio of 24.90, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The business has a 50-day moving average price of $121.41 and a 200-day moving average price of $108.83.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. Philip Morris International had a net margin of 9.41% and a negative return on equity of 113.32%. The business had revenue of $9.47 billion for the quarter, compared to analyst estimates of $9.19 billion. During the same quarter in the previous year, the business earned $1.60 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, sell-side analysts predict that Philip Morris International Inc. will post 6.45 EPS for the current year.

Philip Morris International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Thursday, September 26th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 4.20%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Thursday, September 26th. Philip Morris International’s dividend payout ratio is 105.47%.

Insider Buying and Selling at Philip Morris International

In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of the sale, the insider now directly owns 158,447 shares of the company’s stock, valued at $17,906,095.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Massimo Andolina sold 9,000 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

Several large investors have recently modified their holdings of PM. Austin Private Wealth LLC boosted its position in shares of Philip Morris International by 8.6% in the first quarter. Austin Private Wealth LLC now owns 3,288 shares of the company’s stock valued at $299,000 after acquiring an additional 260 shares during the period. Capital Advisors Wealth Management LLC acquired a new stake in Philip Morris International in the 1st quarter worth $256,000. Riverview Trust Co acquired a new position in shares of Philip Morris International during the first quarter valued at about $73,000. Prentice Wealth Management LLC lifted its stake in shares of Philip Morris International by 9.4% in the first quarter. Prentice Wealth Management LLC now owns 3,874 shares of the company’s stock valued at $355,000 after buying an additional 333 shares during the period. Finally, CFM Wealth Partners LLC grew its position in Philip Morris International by 0.4% during the first quarter. CFM Wealth Partners LLC now owns 89,091 shares of the company’s stock worth $8,163,000 after buying an additional 336 shares in the last quarter. 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.