Traders Buy Shares of Philip Morris International Inc (PM) on Weakness
Investors purchased shares of Philip Morris International Inc (NYSE:PM) on weakness during trading hours on Tuesday. $95.80 million flowed into the stock on the tick-up and $50.39 million flowed out of the stock on the tick-down, for a money net flow of $45.41 million into the stock. Of all equities tracked, Philip Morris International had the 16th highest net in-flow for the day. Philip Morris International traded down ($0.16) for the day and closed at $117.67
PM has been the topic of a number of recent research reports. Vetr lowered shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $108.70 price objective on the stock. in a research note on Monday, May 8th. Jefferies Group LLC raised their price objective on shares of Philip Morris International from $111.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, May 22nd. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $131.00 price objective on shares of Philip Morris International in a research note on Wednesday, May 24th. Bank of America Corporation raised their price objective on shares of Philip Morris International from $120.00 to $123.00 and gave the company a “neutral” rating in a research note on Tuesday, May 30th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Philip Morris International in a research note on Friday, June 9th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $122.79.
The firm has a 50-day moving average of $116.62 and a 200-day moving average of $115.12. The firm has a market capitalization of $182.76 billion, a PE ratio of 26.07 and a beta of 0.94.
Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.09. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter last year, the company earned $1.15 EPS. Philip Morris International’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts expect that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.
In other news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Philip Morris International by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after purchasing an additional 2,972,929 shares during the period. BlackRock Inc. raised its stake in Philip Morris International by 2.7% during the 2nd quarter. BlackRock Inc. now owns 91,796,829 shares of the company’s stock worth $10,781,538,000 after acquiring an additional 2,421,533 shares during the period. State Street Corp raised its stake in Philip Morris International by 1.8% during the 1st quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after acquiring an additional 1,058,408 shares during the period. FMR LLC raised its stake in Philip Morris International by 12.5% during the 2nd quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after acquiring an additional 2,330,864 shares during the period. Finally, Legal & General Group Plc raised its stake in Philip Morris International by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 7,422,457 shares of the company’s stock worth $871,687,000 after acquiring an additional 210,869 shares during the period. Hedge funds and other institutional investors own 72.02% of the company’s stock.
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Philip Morris International Company Profile
Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.
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