Traders 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 Tuesday. $121.79 million flowed into the stock on the tick-up and $60.56 million flowed out of the stock on the tick-down, for a money net flow of $61.23 million into the stock. Of all equities tracked, Philip Morris International had the 23rd highest net in-flow for the day. Philip Morris International traded down ($1.46) for the day and closed at $102.85

A number of research analysts have weighed in on PM shares. Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Wells Fargo & Co reaffirmed an “outperform” rating and issued a $135.00 price objective (down from $140.00) on shares of Philip Morris International in a research note on Wednesday, November 15th. Piper Jaffray Companies set a $130.00 price objective on shares of Philip Morris International and gave the company a “buy” rating in a research note on Thursday, November 16th. Citigroup dropped their price objective on shares of Philip Morris International from $117.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 16th. Finally, Jefferies Group raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective on the stock in a research note on Friday, January 19th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $123.79.

The company has a debt-to-equity ratio of -3.06, a quick ratio of 0.80 and a current ratio of 1.35. The stock has a market capitalization of $159,749.70, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. The firm had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.17 billion. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. sell-side analysts forecast that Philip Morris International Inc. will post 5.27 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PM. Vanguard Group Inc. raised its position in Philip Morris International by 2.7% in the second quarter. Vanguard Group Inc. now owns 111,475,174 shares of the company’s stock worth $13,092,759,000 after acquiring an additional 2,972,929 shares during the period. BlackRock Inc. raised its position in Philip Morris International by 2.0% in the fourth quarter. BlackRock Inc. now owns 94,653,614 shares of the company’s stock worth $10,000,154,000 after acquiring an additional 1,851,721 shares during the period. FMR LLC raised its position in Philip Morris International by 12.5% in the second quarter. FMR LLC now owns 20,919,201 shares of the company’s stock worth $2,456,960,000 after acquiring an additional 2,330,864 shares during the period. Bank of New York Mellon Corp raised its position in Philip Morris International by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 17,494,845 shares of the company’s stock worth $1,848,329,000 after acquiring an additional 266,461 shares during the period. Finally, Geode Capital Management LLC raised its position in Philip Morris International by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 16,006,215 shares of the company’s stock worth $1,687,415,000 after acquiring an additional 423,024 shares during the period. 73.20% of the stock is currently owned by institutional investors.

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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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