Investors Buy Shares of Philip Morris International Inc. (PM) on Weakness
Investors purchased shares of Philip Morris International Inc. (NYSE:PM) on weakness during trading on Tuesday. $108.88 million flowed into the stock on the tick-up and $58.88 million flowed out of the stock on the tick-down, for a money net flow of $50.00 million into the stock. Of all companies tracked, Philip Morris International had the 5th highest net in-flow for the day. Philip Morris International traded down ($0.48) for the day and closed at $102.90
Several analysts have recently commented on PM shares. Bank of America Corp. upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and raised their price objective for the company from $93.00 to $110.00 in a research report on Thursday, March 24th. Morgan Stanley lifted their price target on shares of Philip Morris International from $95.00 to $110.00 and gave the company an “overweight” rating in a report on Monday, April 4th. Vetr downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $99.42 price target on the stock. in a report on Thursday, March 17th. First Global upgraded shares of Philip Morris International from a “marketperform” rating to an “outperform” rating in a report on Thursday, April 14th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $97.00 price target on shares of Philip Morris International in a report on Thursday, March 17th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $102.23.
The company has a market capitalization of $159.63 billion and a P/E ratio of 24.27. The stock’s 50 day moving average is $100.54 and its 200-day moving average is $95.94.
Philip Morris International (NYSE:PM) last issued its quarterly earnings results on Tuesday, April 19th. The company reported $0.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by $0.13. The company had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.36 billion. The firm’s revenue was down 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. Equities analysts anticipate that Philip Morris International Inc. will post $4.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 11th. Investors of record on Thursday, June 23rd were paid a $1.02 dividend. 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 3.95%.
In other Philip Morris International news, VP Marc S. Firestone sold 18,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 26th. The shares were sold at an average price of $97.06, for a total transaction of $1,747,080.00. Following the sale, the vice president now owns 184,179 shares of the company’s stock, valued at $17,876,413.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Louis C. Camilleri sold 33,340 shares of the firm’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $96.95, for a total transaction of $3,232,313.00. Following the sale, the chairman now directly owns 800,157 shares in the company, valued at approximately $77,575,221.15. The disclosure for this sale can be found here.
A number of hedge funds recently added to or reduced their stakes in PM. Employees Retirement System of Texas boosted its stake in Philip Morris International by 12.3% in the fourth quarter. Employees Retirement System of Texas now owns 451,100 shares of the company’s stock worth $39,656,000 after buying an additional 49,500 shares during the last quarter. Morningstar Investment Services LLC boosted its stake in Philip Morris International by 6.8% in the fourth quarter. Morningstar Investment Services LLC now owns 820,862 shares of the company’s stock worth $72,162,000 after buying an additional 52,528 shares during the last quarter. Ashburton Jersey Ltd bought a new stake in Philip Morris International during the fourth quarter worth $15,025,000. Dimensional Fund Advisors LP boosted its stake in Philip Morris International by 3.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,317,855 shares of the company’s stock worth $203,789,000 after buying an additional 81,931 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in Philip Morris International by 26.6% in the fourth quarter. BNP Paribas Arbitrage SA now owns 751,187 shares of the company’s stock worth $66,037,000 after buying an additional 157,616 shares during the last quarter.
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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