Philip Morris International (NYSE:PM) Sets New 52-Week High After Strong Earnings

Philip Morris International Inc. (NYSE:PM) hit a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as $146.78 and last traded at $140.26, with a volume of 1619991 shares traded. The stock had previously closed at $130.98.

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 117.94% and a net margin of 10.35%.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is presently 85.71%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PM shares. Morgan Stanley started coverage on Philip Morris International in a research report on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price on the stock. Barclays cut their target price on Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up previously from $138.00) on shares of Philip Morris International in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $125.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price target on Philip Morris International from $103.00 to $105.00 and gave the stock a “sell” rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. NewSquare Capital LLC grew its stake 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 purchasing an additional 72 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its stake in shares of Philip Morris International by 3.2% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 2,510 shares of the company’s stock valued at $302,000 after buying an additional 78 shares in the last quarter. Intergy Private Wealth LLC boosted its stake in shares of Philip Morris International by 4.3% in the fourth quarter. Intergy Private Wealth LLC now owns 1,959 shares of the company’s stock valued at $236,000 after buying an additional 80 shares in the last quarter. BKM Wealth Management LLC boosted its stake in shares of Philip Morris International by 3.4% in the fourth quarter. BKM Wealth Management LLC now owns 2,479 shares of the company’s stock valued at $298,000 after buying an additional 81 shares in the last quarter. Finally, Detalus Advisors LLC boosted its stake in shares of Philip Morris International by 2.6% in the fourth quarter. Detalus Advisors LLC now owns 3,231 shares of the company’s stock valued at $389,000 after buying an additional 81 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

The stock has a market capitalization of $226.08 billion, a PE ratio of 23.08, a P/E/G ratio of 2.30 and a beta of 0.55. The stock has a 50 day moving average of $125.17 and a two-hundred day moving average of $123.46.

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.