Traders purchased shares of Philip Morris International Inc (NYSE:PM) on weakness during trading on Wednesday. $111.67 million flowed into the stock on the tick-up and $64.07 million flowed out of the stock on the tick-down, for a money net flow of $47.60 million into the stock. Of all equities tracked, Philip Morris International had the 14th highest net in-flow for the day. Philip Morris International traded down ($0.91) for the day and closed at $114.26
A number of equities analysts have commented on the company. Jefferies Group LLC reduced their price objective on Philip Morris International from $120.00 to $116.00 and set a “hold” rating on the stock in a research note on Thursday. Wells Fargo & Company reissued an “outperform” rating and issued a $140.00 price objective on shares of Philip Morris International in a research note on Tuesday. Goldman Sachs Group, Inc. (The) assumed coverage on Philip Morris International in a research note on Monday, October 2nd. They issued a “buy” rating on the stock. Cowen and Company reissued a “buy” rating on shares of Philip Morris International in a research note on Sunday, September 24th. Finally, Piper Jaffray Companies set a $134.00 price objective on Philip Morris International and gave the stock a “buy” rating in a research note on Saturday, August 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $125.92.
The stock’s 50-day moving average is $114.63 and its 200 day moving average is $115.76. The stock has a market cap of $177.89 billion, a price-to-earnings ratio of 25.38 and a beta of 0.93.
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 analysts’ consensus estimates of $1.23 by ($0.09). The firm had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. Philip Morris International had a negative return on equity of 66.18% and a net margin of 9.36%. The company’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.15 EPS. On average, equities research analysts forecast that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Wednesday, September 27th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $4.28 dividend on an annualized basis and a yield of 3.74%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s payout ratio is currently 94.90%.
In related news, insider Drago Azinovic sold 14,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total transaction of $1,624,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PM. Duncker Streett & Co. Inc. lifted its holdings in Philip Morris International by 7.0% during the 1st quarter. Duncker Streett & Co. Inc. now owns 15,230 shares of the company’s stock worth $1,719,000 after buying an additional 990 shares during the period. Court Place Advisors LLC acquired a new position in Philip Morris International during the 1st quarter worth about $206,000. Adviser Investments LLC acquired a new position in Philip Morris International during the 1st quarter worth about $285,000. Baystate Wealth Management LLC lifted its holdings in Philip Morris International by 46.2% during the 1st quarter. Baystate Wealth Management LLC now owns 2,046 shares of the company’s stock worth $238,000 after buying an additional 647 shares during the period. Finally, ST Germain D J Co. Inc. acquired a new position in Philip Morris International during the 1st quarter worth about $222,000. 72.00% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: “Investors Buy Shares of Philip Morris International Inc (PM) on Weakness” was published by Markets Daily and is the property of of Markets Daily. If you are accessing this report on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this report can be accessed at https://www.themarketsdaily.com/2017/10/13/investors-buy-shares-of-philip-morris-international-inc-pm-on-weakness.html.
About Philip Morris International
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.
Receive News & Ratings for Philip Morris International Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International Inc and related companies with MarketBeat.com's FREE daily email newsletter.