Shares of Philip Morris International Inc. (NYSE:PM) gapped up before the market opened on Friday . The stock had previously closed at $100.42, but opened at $100.62. Philip Morris International shares last traded at $101.65, with a volume of 1,952,305 shares traded.

PM has been the topic of a number of recent research reports. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $105.00 price objective (up previously from $99.00) on shares of Philip Morris International in a research report on Friday, July 15th. Vetr lowered Philip Morris International from a “hold” rating to a “sell” rating and set a $98.82 target price on the stock. in a report on Wednesday, May 11th. JPMorgan Chase & Co. raised Philip Morris International from a “neutral” rating to an “overweight” rating and set a $112.00 target price on the stock in a report on Friday, June 17th. Wells Fargo & Co. reissued an “outperform” rating on shares of Philip Morris International in a report on Tuesday, July 19th. Finally, SBG Securities raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $103.68.

The company’s 50 day moving average price is $99.79 and its 200 day moving average price is $98.82. The stock has a market capitalization of $157.88 billion and a PE ratio of 24.35.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.20 by $0.05. During the same quarter last year, the business earned $1.21 earnings per share. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.77 billion. Analysts forecast that Philip Morris International Inc. will post $4.49 EPS for the current year.

Other large investors have recently added to or reduced their stakes in the company. St. Louis Trust Co purchased a new stake in Philip Morris International during the fourth quarter valued at about $1,170,000. King Luther Capital Management Corp increased its stake in Philip Morris International by 35.2% in the fourth quarter. King Luther Capital Management Corp now owns 15,260 shares of the company’s stock valued at $1,342,000 after buying an additional 3,970 shares during the period. Bernzott Capital Advisors increased its stake in Philip Morris International by 0.4% in the fourth quarter. Bernzott Capital Advisors now owns 24,330 shares of the company’s stock valued at $2,139,000 after buying an additional 100 shares during the period. CORDA Investment Management LLC. increased its stake in Philip Morris International by 3.5% in the fourth quarter. CORDA Investment Management LLC. now owns 35,314 shares of the company’s stock valued at $3,104,000 after buying an additional 1,200 shares during the period. Finally, Bbva Compass Bancshares Inc. increased its stake in Philip Morris International by 37.6% in the fourth quarter. Bbva Compass Bancshares Inc. now owns 78,443 shares of the company’s stock valued at $6,897,000 after buying an additional 21,449 shares during the period.

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.

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