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

Investors bought shares of Philip Morris International Inc. (NYSE:PM) on weakness during trading hours on Wednesday. $149.94 million flowed into the stock on the tick-up and $95.19 million flowed out of the stock on the tick-down, for a money net flow of $54.75 million into the stock. Of all equities tracked, Philip Morris International had the 8th highest net in-flow for the day. Philip Morris International traded down ($2.60) for the day and closed at $83.95

A number of analysts recently weighed in on PM shares. Citigroup increased their price objective on shares of Philip Morris International from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, October 19th. Piper Jaffray Companies set a $99.00 price objective on shares of Philip Morris International and gave the stock a “buy” rating in a research report on Wednesday, October 10th. Jefferies Financial Group lowered shares of Philip Morris International from a “buy” rating to a “hold” rating and set a $80.00 price objective on the stock. in a research report on Friday, August 24th. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Finally, Societe Generale set a $95.00 price objective on shares of Philip Morris International and gave the stock a “hold” rating in a research report on Monday, October 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $94.73.

The stock has a market capitalization of $130.50 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 1.92 and a beta of 0.58.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, October 18th. The company reported $1.44 EPS for the quarter, topping the Zacks’ consensus estimate of $1.28 by $0.16. The business had revenue of $7.50 billion for the quarter, compared to analyst estimates of $7.16 billion. Philip Morris International had a net margin of 8.20% and a negative return on equity of 78.80%. The company’s quarterly revenue was up .4% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 5.01 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Belpointe Asset Management LLC boosted its stake in shares of Philip Morris International by 233.0% during the third quarter. Belpointe Asset Management LLC now owns 12,029 shares of the company’s stock valued at $981,000 after purchasing an additional 8,417 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Philip Morris International by 1.3% during the third quarter. Vanguard Group Inc. now owns 118,890,424 shares of the company’s stock valued at $9,694,325,000 after purchasing an additional 1,516,211 shares in the last quarter. Morgan Stanley boosted its stake in shares of Philip Morris International by 5.0% during the third quarter. Morgan Stanley now owns 23,865,004 shares of the company’s stock valued at $1,945,952,000 after purchasing an additional 1,126,960 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Philip Morris International by 2.5% during the third quarter. Legal & General Group Plc now owns 6,460,756 shares of the company’s stock valued at $526,810,000 after purchasing an additional 154,947 shares in the last quarter. Finally, Kepos Capital LP bought a new position in shares of Philip Morris International during the third quarter valued at approximately $3,744,000. 72.31% of the stock is currently owned by institutional investors and hedge funds.

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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.

Further Reading: How Do You Calculate Return on Investment (ROI)?

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