Investors Buy Philip Morris International Inc (PM) on Weakness

Investors bought shares of Philip Morris International Inc (NYSE:PM) on weakness during trading hours 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

Several equities research analysts recently issued reports on PM shares. TheStreet raised Philip Morris International from a “c+” rating to a “b-” rating in a research report on Thursday, July 20th. Zacks Investment Research lowered Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Berenberg Bank set a $96.00 price target on Philip Morris International and gave the company a “hold” rating in a research report on Saturday, June 24th. Citigroup Inc. reissued a “neutral” rating and set a $125.00 price target (down from $128.00) on shares of Philip Morris International in a research report on Monday, July 24th. Finally, Bank of America Corporation upped their price target on Philip Morris International from $123.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, July 10th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Philip Morris International has a consensus rating of “Buy” and an average target price of $126.23.

The company has a market cap of $177.47 billion, a PE ratio of 25.32 and a beta of 0.93. The firm has a 50 day moving average of $114.71 and a 200 day moving average of $115.78.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Thursday, July 20th. The company reported $1.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.09). Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The business had revenue of $6.92 billion during the quarter, compared to the consensus estimate of $7.11 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts anticipate that Philip Morris International Inc will post $4.83 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th will be given a $1.07 dividend. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Tuesday, September 26th. This represents a $4.28 annualized dividend and a yield of 3.75%. Philip Morris International’s payout ratio is presently 94.90%.

In other Philip Morris International news, insider Drago Azinovic sold 14,000 shares of Philip Morris International stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of PM. Guidant Wealth Advisors raised its position in Philip Morris International by 25.5% in the 2nd quarter. Guidant Wealth Advisors now owns 939 shares of the company’s stock valued at $110,000 after purchasing an additional 191 shares during the last quarter. Welch Investments LLC bought a new stake in shares of Philip Morris International during the first quarter worth $113,000. American Beacon Advisors Inc. bought a new stake in shares of Philip Morris International during the first quarter worth $114,000. Vantage Investment Advisors LLC raised its position in shares of Philip Morris International by 1.0% during the second quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after acquiring an additional 10 shares during the last quarter. Finally, Acropolis Investment Management LLC raised its position in shares of Philip Morris International by 0.5% during the second quarter. Acropolis Investment Management LLC now owns 1,045 shares of the company’s stock worth $123,000 after acquiring an additional 5 shares during the last quarter. Hedge funds and other institutional investors own 72.00% 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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