Philip Morris International (NYSE:PM) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Friday.
A number of other equities research analysts also recently issued reports on PM. Piper Jaffray Companies set a $110.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Monday, December 3rd. Credit Suisse Group downgraded shares of Philip Morris International from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $92.00 to $74.00 in a research report on Tuesday, December 18th. Morgan Stanley reduced their price objective on shares of Philip Morris International from $102.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, January 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Philip Morris International in a research report on Sunday, February 10th. Finally, Zacks Investment Research upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $91.86.
PM stock traded up $1.06 during trading on Friday, reaching $90.85. The stock had a trading volume of 12,348,393 shares, compared to its average volume of 6,466,613. Philip Morris International has a one year low of $64.67 and a one year high of $105.80. The company has a market capitalization of $141.23 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.85 and a beta of 0.95.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $84.76, for a total value of $4,238,000.00. Following the transaction, the chief executive officer now directly owns 844,901 shares in the company, valued at $71,613,808.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. Essex Investment Management Co. LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $27,000. Transamerica Financial Advisors Inc. lifted its stake in shares of Philip Morris International by 552.8% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 470 shares of the company’s stock valued at $32,000 after buying an additional 398 shares in the last quarter. Clean Yield Group purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $37,000. Claybrook Capital LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $39,000. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of Philip Morris International during the 4th quarter valued at approximately $40,000. Institutional investors own 74.45% of the company’s stock.
About Philip Morris International
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.
Featured Article: Fundamental Analysis and Choosing Stocks
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.