Philip Morris International (NYSE:PM) Sets New 1-Year High - Here's Why

Philip Morris International Inc. (NYSE:PM - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $161.99 and last traded at $159.40, with a volume of 1048145 shares changing hands. The stock had previously closed at $156.17.

Analysts Set New Price Targets

Several brokerages recently commented on PM. UBS Group raised their target price on Philip Morris International from $105.00 to $120.00 and gave the stock a "sell" rating in a research report on Friday, February 7th. Morgan Stanley began coverage on Philip Morris International in a report on Thursday, January 16th. They issued an "overweight" rating and a $140.00 target price for the company. Argus upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. StockNews.com downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Barclays raised their price objective on shares of Philip Morris International from $145.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $144.56.

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Philip Morris International Stock Performance

The stock has a 50-day simple moving average of $149.12 and a 200 day simple moving average of $133.27. The stock has a market capitalization of $234.20 billion, a P/E ratio of 33.36, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a negative return on equity of 120.08% and a net margin of 7.89%. Equities analysts predict that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Thursday, March 20th will be issued a $1.35 dividend. The ex-dividend date is Thursday, March 20th. This represents a $5.40 annualized dividend and a yield of 3.59%. Philip Morris International's dividend payout ratio is currently 119.73%.

Insiders Place Their Bets

In other Philip Morris International news, insider Lars Dahlgren sold 3,679 shares of the firm's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $152.96, for a total transaction of $562,739.84. Following the transaction, the insider now owns 26,828 shares in the company, valued at approximately $4,103,610.88. This trade represents a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Yann Guerin sold 2,500 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the completion of the sale, the senior vice president now directly owns 30,308 shares of the company's stock, valued at approximately $4,584,994.24. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 131,822 shares of company stock valued at $19,655,585. Company insiders own 0.13% of the company's stock.

Hedge Funds Weigh In On Philip Morris International

A number of hedge funds and other institutional investors have recently made changes to their positions in PM. NewSquare Capital LLC increased its position in shares of Philip Morris International by 53.7% in the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company's stock valued at $25,000 after buying an additional 72 shares in the last quarter. Dunhill Financial LLC increased its holdings in shares of Philip Morris International by 203.8% in the third quarter. Dunhill Financial LLC now owns 240 shares of the company's stock worth $29,000 after acquiring an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. bought a new position in shares of Philip Morris International during the 4th quarter valued at about $33,000. Knuff & Co LLC acquired a new position in shares of Philip Morris International in the 4th quarter valued at approximately $36,000. Finally, Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International during the 4th quarter worth approximately $36,000. 78.63% of the stock is owned by institutional investors.

Philip Morris International Company Profile

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.