Investors Buy Shares of Philip Morris International Inc (PM) on Weakness

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.

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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.

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