Investors Buy Philip Morris International Inc. (PM) on Weakness
Investors bought shares of Philip Morris International Inc. (NYSE:PM) on weakness during trading on Monday. $98.57 million flowed into the stock on the tick-up and $57.40 million flowed out of the stock on the tick-down, for a money net flow of $41.17 million into the stock. Of all stocks tracked, Philip Morris International had the 8th highest net in-flow for the day. Philip Morris International traded down ($0.38) for the day and closed at $98.55
PM has been the subject of several research analyst reports. Zacks Investment Research raised Philip Morris International from a “sell” rating to a “hold” rating in a report on Wednesday, July 20th. Vetr raised Philip Morris International from a “hold” rating to a “buy” rating and set a $104.15 price objective for the company in a report on Tuesday, April 19th. First Global raised Philip Morris International from a “marketperform” rating to an “outperform” rating in a report on Thursday, April 14th. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and increased their price objective for the company from $77.00 to $99.00 in a report on Thursday, April 21st. Finally, Goldman Sachs Group Inc. reissued a “hold” rating and issued a $100.00 price objective (up from $97.00) on shares of Philip Morris International in a report on Thursday, April 14th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $103.68.
The firm’s 50-day moving average price is $100.57 and its 200 day moving average price is $97.53. The stock has a market capitalization of $152.88 billion and a price-to-earnings ratio of 23.58.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, July 19th. The company reported $1.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.05. The firm earned $6.65 billion during the quarter, compared to analyst estimates of $6.77 billion. During the same period last year, the business earned $1.21 EPS. On average, equities analysts forecast that Philip Morris International Inc. will post $4.49 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Thursday, June 23rd were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Tuesday, June 21st. This represents a $4.08 dividend on an annualized basis and a yield of 4.14%.
A number of hedge funds and institutional investors recently added to or reduced their stakes in PM. Brown Advisory Securities LLC raised its position in Philip Morris International by 1.0% in the fourth quarter. Brown Advisory Securities LLC now owns 13,287 shares of the company’s stock worth $1,170,000 after buying an additional 130 shares in the last quarter. Pettyjohn Wood & White Inc. raised its position in Philip Morris International by 26.2% in the fourth quarter. Pettyjohn Wood & White Inc. now owns 13,862 shares of the company’s stock worth $1,219,000 after buying an additional 2,876 shares in the last quarter. Pitcairn Co. raised its position in Philip Morris International by 2.3% in the fourth quarter. Pitcairn Co. now owns 16,681 shares of the company’s stock worth $1,467,000 after buying an additional 375 shares in the last quarter. WFG Advisors LP raised its position in Philip Morris International by 26.8% in the fourth quarter. WFG Advisors LP now owns 16,802 shares of the company’s stock worth $1,477,000 after buying an additional 3,556 shares in the last quarter. Finally, TMD & Associates Inc. bought a new position in Philip Morris International during the fourth quarter worth about $1,493,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.