Equities researchers at Jefferies Group began coverage on shares of Philip Morris International Inc. (NYSE:PM) in a research report issued on Wednesday. The brokerage set a “hold” rating and a $96.00 price target on the stock. Jefferies Group’s target price suggests a potential downside of 3.24% from the company’s previous close.

PM has been the topic of several other reports. Zacks Investment Research upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Vetr upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Tuesday, September 13th. SBG Securities upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Wells Fargo & Co. restated an “outperform” rating on shares of Philip Morris International in a report on Tuesday, July 19th. Finally, Goldman Sachs Group Inc. upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price target for the company from $106.00 to $114.00 in a report on Monday, September 12th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Philip Morris International presently has an average rating of “Buy” and an average price target of $104.26.

Analyst Recommendations for Philip Morris International (NYSE:PM)

Shares of Philip Morris International (NYSE:PM) traded up 0.553% during mid-day trading on Wednesday, reaching $99.759. The company had a trading volume of 759,914 shares. Philip Morris International has a 52-week low of $78.03 and a 52-week high of $104.20. The company’s 50-day moving average price is $99.71 and its 200-day moving average price is $99.61. The company has a market capitalization of $154.76 billion, a PE ratio of 23.866 and a beta of 0.97.

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Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Tuesday, July 19th. The company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.20 by $0.05. Philip Morris International had a net margin of 8.84% and a negative return on equity of 57.28%. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.77 billion. During the same quarter in the prior year, the firm earned $1.21 earnings per share. On average, analysts forecast that Philip Morris International will post $4.49 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 28th will be given a dividend of $1.04 per share. The ex-dividend date is Monday, September 26th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 4.19%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.02. Philip Morris International’s dividend payout ratio is currently 97.61%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. LPL Financial LLC raised its position in Philip Morris International by 4.6% in the first quarter. LPL Financial LLC now owns 541,038 shares of the company’s stock valued at $54,209,000 after buying an additional 23,687 shares during the period. Avalon Advisors LLC raised its position in Philip Morris International by 1.8% in the first quarter. Avalon Advisors LLC now owns 315,696 shares of the company’s stock valued at $30,973,000 after buying an additional 5,528 shares during the period. Ferguson Wellman Capital Management Inc. raised its position in Philip Morris International by 34.8% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 349,682 shares of the company’s stock valued at $35,570,000 after buying an additional 90,355 shares during the period. First Republic Investment Management Inc. raised its position in Philip Morris International by 12.3% in the first quarter. First Republic Investment Management Inc. now owns 384,210 shares of the company’s stock valued at $37,695,000 after buying an additional 42,090 shares during the period. Finally, Thomaspartners Inc. raised its position in Philip Morris International by 1.3% in the first quarter. Thomaspartners Inc. now owns 1,636,297 shares of the company’s stock valued at $160,537,000 after buying an additional 21,024 shares during the period. 71.22% of the stock is owned by institutional investors and hedge funds.

Philip Morris International Company Profile

Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

5 Day Chart for NYSE:PM

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