Traders Buy Philip Morris International (PM) on Weakness

Traders purchased shares of Philip Morris International Inc. (NYSE:PM) on weakness during trading on Thursday. $203.37 million flowed into the stock on the tick-up and $80.52 million flowed out of the stock on the tick-down, for a money net flow of $122.85 million into the stock. Of all stocks tracked, Philip Morris International had the 11th highest net in-flow for the day. Philip Morris International traded down ($0.14) for the day and closed at $85.29

Several equities analysts have issued reports on PM shares. Zacks Investment Research upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. Piper Jaffray Companies set a $110.00 price objective on Philip Morris International and gave the company a “buy” rating in a research report on Monday. Citigroup lifted their price objective on Philip Morris International from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, October 19th. ValuEngine upgraded Philip Morris International from a “sell” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Sanford C. Bernstein started coverage on Philip Morris International in a research report on Tuesday, October 16th. They issued an “outperform” rating and a $97.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $95.73.

The stock has a market cap of $132.80 billion, a PE ratio of 17.30, a price-to-earnings-growth ratio of 1.96 and a beta of 0.60.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, October 18th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.16. The company had revenue of $7.50 billion during the quarter, compared to the consensus estimate of $7.16 billion. Philip Morris International had a negative return on equity of 78.80% and a net margin of 8.20%. The firm’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.27 earnings per share. Research analysts predict that Philip Morris International Inc. will post 5.01 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 11th. Stockholders of record on Thursday, December 20th will be given a dividend of $1.14 per share. The ex-dividend date is Wednesday, December 19th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.35%. Philip Morris International’s payout ratio is currently 92.49%.

In other news, Director Louis C. Camilleri sold 59,495 shares of the business’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $86.98, for a total transaction of $5,174,875.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Several institutional investors have recently made changes to their positions in PM. Gulf International Bank UK Ltd grew its stake in Philip Morris International by 2.0% in the third quarter. Gulf International Bank UK Ltd now owns 30,295 shares of the company’s stock valued at $2,470,000 after acquiring an additional 583 shares during the period. RB Capital Management LLC grew its stake in Philip Morris International by 13.4% in the third quarter. RB Capital Management LLC now owns 4,941 shares of the company’s stock valued at $403,000 after acquiring an additional 584 shares during the period. Shine Investment Advisory Services Inc. grew its stake in Philip Morris International by 90.7% in the second quarter. Shine Investment Advisory Services Inc. now owns 1,245 shares of the company’s stock valued at $101,000 after acquiring an additional 592 shares during the period. Salem Investment Counselors Inc. grew its stake in Philip Morris International by 1.6% in the third quarter. Salem Investment Counselors Inc. now owns 38,104 shares of the company’s stock valued at $3,107,000 after acquiring an additional 600 shares during the period. Finally, Buckingham Asset Management LLC grew its stake in Philip Morris International by 3.2% in the third quarter. Buckingham Asset Management LLC now owns 19,736 shares of the company’s stock valued at $1,609,000 after acquiring an additional 616 shares during the period. 73.32% of the stock is 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.

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