Traders Buy Philip Morris International (PM) on Weakness
Traders purchased shares of Philip Morris International Inc. (NYSE:PM) on weakness during trading hours on Friday. $80.87 million flowed into the stock on the tick-up and $43.44 million flowed out of the stock on the tick-down, for a money net flow of $37.43 million into the stock. Of all equities tracked, Philip Morris International had the 31st highest net in-flow for the day. Philip Morris International traded down ($0.45) for the day and closed at $79.33
Several research analysts have recently weighed in on the company. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. JPMorgan Chase & Co. cut Philip Morris International from an “overweight” rating to a “neutral” rating in a research report on Friday, July 20th. Stifel Nicolaus dropped their price target on Philip Morris International from $100.00 to $93.00 and set a “buy” rating for the company in a research report on Friday, July 20th. Societe Generale cut Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $93.00 price target on shares of Philip Morris International in a research report on Friday, July 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company’s stock. Philip Morris International presently has a consensus rating of “Hold” and a consensus price target of $103.36.
The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of -2.76. The stock has a market capitalization of $124.44 billion, a P/E ratio of 16.04, a P/E/G ratio of 1.76 and a beta of 0.82.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th will be issued a $1.14 dividend. This represents a $4.56 annualized dividend and a yield of 5.75%. The ex-dividend date is Tuesday, September 25th. Philip Morris International’s payout ratio is currently 92.49%.
A number of large investors have recently modified their holdings of PM. Optimum Investment Advisors purchased a new stake in Philip Morris International in the 1st quarter valued at $100,000. Shine Investment Advisory Services Inc. grew its holdings in Philip Morris International by 90.7% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock valued at $101,000 after buying an additional 592 shares in the last quarter. Landaas & Co. WI ADV purchased a new stake in Philip Morris International in the 2nd quarter valued at $106,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Philip Morris International in the 2nd quarter valued at $108,000. Finally, Cordasco Financial Network grew its holdings in Philip Morris International by 214.1% in the 2nd quarter. Cordasco Financial Network now owns 1,357 shares of the company’s stock valued at $110,000 after buying an additional 925 shares in the last quarter. Institutional investors own 72.88% of the company’s stock.
About Philip Morris International (NYSE:PM)
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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