Philip Morris International (NYSE:PM) shares fell 2.1% on Friday after Goldman Sachs downgraded the stock from a conviction-buy rating to a buy rating. The stock traded as low as $83.50 and last traded at $83.84. 9,634,507 shares traded hands during mid-day trading, an increase of 65% from the average session volume of 5,839,197 shares. The stock had previously closed at $85.64.
A number of other research analysts have also commented on PM. Cowen reissued a “buy” rating and set a $105.00 price objective on shares of Philip Morris International in a report on Friday. Stifel Nicolaus lowered their price objective on Philip Morris International from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Friday. Bank of America lowered Philip Morris International from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $113.00 to $88.00 in a report on Friday. ValuEngine lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Morgan Stanley increased their price objective on Philip Morris International from $120.00 to $123.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $118.29.
In other Philip Morris International news, CEO Andre Calantzopoulos sold 49,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $103.66, for a total value of $5,079,340.00. Following the sale, the chief executive officer now owns 792,765 shares of the company’s stock, valued at approximately $82,178,019.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc S. Firestone sold 13,650 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $104.63, for a total value of $1,428,199.50. Following the completion of the sale, the insider now directly owns 189,199 shares in the company, valued at approximately $19,795,891.37. The disclosure for this sale can be found here. Company insiders own 0.22% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. South State Corp lifted its position in shares of Philip Morris International by 0.4% in the 2nd quarter. South State Corp now owns 15,076 shares of the company’s stock worth $1,771,000 after acquiring an additional 57 shares during the period. Capital Wealth Planning LLC lifted its position in shares of Philip Morris International by 70.3% in the 2nd quarter. Capital Wealth Planning LLC now owns 17,140 shares of the company’s stock worth $2,013,000 after acquiring an additional 7,077 shares during the period. Empirical Finance LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $304,000. CWA Asset Management Group LLC lifted its position in shares of Philip Morris International by 9.4% in the 2nd quarter. CWA Asset Management Group LLC now owns 26,629 shares of the company’s stock worth $3,128,000 after acquiring an additional 2,283 shares during the period. Finally, Teachers Advisors LLC lifted its position in shares of Philip Morris International by 6.0% in the 2nd quarter. Teachers Advisors LLC now owns 3,803,693 shares of the company’s stock worth $446,744,000 after acquiring an additional 215,234 shares during the period. 72.18% of the stock is currently owned by hedge funds and other institutional investors.
The company has a quick ratio of 0.80, a current ratio of 1.35 and a debt-to-equity ratio of -3.06. The stock has a market capitalization of $157,559.66, a P/E ratio of 17.02, a P/E/G ratio of 1.90 and a beta of 0.86.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.04). Philip Morris International had a negative return on equity of 71.99% and a net margin of 7.73%. The firm had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.17 billion. During the same quarter in the prior year, the business posted $1.10 EPS. Philip Morris International’s revenue was up 19.0% compared to the same quarter last year. equities analysts expect that Philip Morris International will post 5.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 11th. Investors of record on Thursday, March 22nd were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Wednesday, March 21st. This represents a $4.28 annualized dividend and a dividend yield of 5.10%. Philip Morris International’s dividend payout ratio (DPR) is presently 86.82%.
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Philip Morris International Company Profile
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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