Traders Buy Philip Morris International Inc. (PM) on Weakness
Investors bought shares of Philip Morris International Inc. (NYSE:PM) on weakness during trading hours on Thursday. $101.74 million flowed into the stock on the tick-up and $43.62 million flowed out of the stock on the tick-down, for a money net flow of $58.12 million into the stock. Of all stocks tracked, Philip Morris International had the 5th highest net in-flow for the day. Philip Morris International traded down ($0.05) for the day and closed at $103.19
Several research analysts recently commented on PM shares. Bank of America Corp. upgraded shares of Philip Morris International from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $93.00 to $110.00 in a research note on Thursday, March 24th. Morgan Stanley boosted their target price on shares of Philip Morris International from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Monday, April 4th. First Global raised shares of Philip Morris International from a “marketperform” rating to an “outperform” rating in a research report on Thursday, April 14th. Vetr raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $102.06 target price on the stock in a research report on Monday, March 28th. Finally, Cowen and Company reissued an “outperform” rating and set a $109.00 target price (up previously from $98.00) on shares of Philip Morris International in a research report on Wednesday, March 23rd. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Philip Morris International presently has a consensus rating of “Buy” and an average price target of $102.50.
The stock has a 50 day moving average price of $100.92 and a 200 day moving average price of $96.16. The stock has a market cap of $160.76 billion and a PE ratio of 24.44.
Philip Morris International (NYSE:PM) last posted its earnings results on Tuesday, April 19th. The company reported $0.98 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.11 by $0.13. During the same period in the previous year, the business earned $1.16 EPS. The company earned $6.10 billion during the quarter, compared to analyst estimates of $6.36 billion. Philip Morris International’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, analysts anticipate that Philip Morris International Inc. will post $4.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 11th. Shareholders of record on Thursday, June 23rd were given a $1.02 dividend. The ex-dividend date of this dividend was Tuesday, June 21st. This represents a $4.08 annualized dividend and a yield of 3.94%.
In other news, Chairman Louis C. Camilleri sold 33,340 shares of the business’s stock in a transaction 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 completion of the sale, the chairman now owns 800,157 shares in the company, valued at $77,575,221.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Marc S. Firestone sold 18,000 shares of the business’s stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $97.06, for a total value of $1,747,080.00. Following the sale, the vice president now owns 184,179 shares of the company’s stock, valued at approximately $17,876,413.74. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Philip Morris International by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 94,208,305 shares of the company’s stock worth $8,281,852,000 after buying an additional 3,019,182 shares during the last quarter. Northstar Investment Advisors LLC increased its stake in Philip Morris International by 3.0% in the fourth quarter. Northstar Investment Advisors LLC now owns 85,906 shares of the company’s stock worth $7,552,000 after buying an additional 2,484 shares during the last quarter. Bank of Hawaii increased its stake in Philip Morris International by 3.8% in the fourth quarter. Bank of Hawaii now owns 138,057 shares of the company’s stock worth $12,136,000 after buying an additional 5,070 shares during the last quarter. WMS Partners LLC increased its stake in Philip Morris International by 1.9% in the fourth quarter. WMS Partners LLC now owns 26,475 shares of the company’s stock worth $2,327,000 after buying an additional 504 shares during the last quarter. Finally, Brown Advisory Securities LLC increased its stake 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 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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