Traders sold shares of Philip Morris International Inc. (NYSE:PM) on strength during trading hours on Thursday. $44.42 million flowed into the stock on the tick-up and $100.88 million flowed out of the stock on the tick-down, for a money net flow of $56.46 million out of the stock. Of all stocks tracked, Philip Morris International had the 9th highest net out-flow for the day. Philip Morris International traded up $0.41 for the day and closed at $89.48
PM has been the subject of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $93.00 target price on shares of Philip Morris International in a research report on Friday, July 13th. Morgan Stanley decreased their target price on Philip Morris International from $111.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, July 17th. Cowen cut Philip Morris International from an “outperform” rating to a “market perform” rating and set a $97.00 target price for the company. in a research report on Friday, July 20th. Citigroup set a $90.00 target price on Philip Morris International and gave the stock a “buy” rating in a research report on Friday, July 20th. Finally, Stifel Nicolaus decreased their target price 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. Philip Morris International has a consensus rating of “Buy” and an average price target of $98.08.
The stock has a market cap of $138.00 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Investors of record on Wednesday, September 26th were given a dividend of $1.14 per share. The ex-dividend date was Tuesday, September 25th. This represents a $4.56 dividend on an annualized basis and a yield of 5.10%. Philip Morris International’s payout ratio is 92.49%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alerus Financial NA raised its holdings in Philip Morris International by 11.3% during the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock valued at $7,058,000 after buying an additional 8,897 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Philip Morris International by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock valued at $16,235,000 after buying an additional 20,196 shares in the last quarter. Zacks Investment Management raised its holdings in Philip Morris International by 7.4% during the second quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock valued at $42,569,000 after buying an additional 36,303 shares in the last quarter. IMA Wealth Inc. bought a new position in Philip Morris International during the second quarter valued at about $149,000. Finally, Jupiter Asset Management Ltd. raised its holdings in Philip Morris International by 102.3% during the second quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock valued at $5,879,000 after buying an additional 36,816 shares in the last quarter. 72.76% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This report was published by WKRB News and is the sole property of of WKRB News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.wkrb13.com/2018/11/09/traders-sell-shares-of-philip-morris-international-pm-on-strength-pm.html.
Philip Morris International Company Profile (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.
Recommended Story: Yield Curve
Receive News & Ratings for Philip Morris International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Philip Morris International and related companies with MarketBeat.com's FREE daily email newsletter.