Investors Buy Philip Morris International (PM) on Weakness

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Traders bought shares of Philip Morris International Inc. (NYSE:PM) on weakness during trading hours on Friday. $219.74 million flowed into the stock on the tick-up and $122.60 million flowed out of the stock on the tick-down, for a money net flow of $97.14 million into the stock. Of all stocks tracked, Philip Morris International had the 15th highest net in-flow for the day. Philip Morris International traded down ($1.63) for the day and closed at $89.00

Several research firms have recently issued reports on PM. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Zacks Investment Research lowered Philip Morris International from a “hold” rating to a “sell” rating in a report on Monday, September 24th. Piper Jaffray Companies set a $99.00 target price on Philip Morris International and gave the company a “buy” rating in a report on Wednesday, October 10th. Societe Generale set a $95.00 target price on Philip Morris International and gave the company a “hold” rating in a report on Monday, October 22nd. Finally, Stifel Nicolaus reduced their target price on Philip Morris International from $100.00 to $93.00 and set a “buy” rating for the company in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $98.08.

The firm has a market cap of $140.88 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 2.08 and a beta of 0.80.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 12th. Shareholders of record on Wednesday, September 26th were issued a dividend of $1.14 per share. This represents a $4.56 annualized dividend and a yield of 5.12%. The ex-dividend date of this dividend was Tuesday, September 25th. Philip Morris International’s dividend payout ratio (DPR) is 92.49%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alerus Financial NA lifted its position in shares of Philip Morris International by 11.3% during the second quarter. Alerus Financial NA now owns 87,413 shares of the company’s stock worth $7,058,000 after acquiring an additional 8,897 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Philip Morris International by 11.2% during the second quarter. Envestnet Asset Management Inc. now owns 201,092 shares of the company’s stock worth $16,235,000 after acquiring an additional 20,196 shares in the last quarter. Zacks Investment Management lifted its position in shares of Philip Morris International by 7.4% during the second quarter. Zacks Investment Management now owns 527,234 shares of the company’s stock worth $42,569,000 after acquiring an additional 36,303 shares in the last quarter. IMA Wealth Inc. purchased a new stake in shares of Philip Morris International during the second quarter worth $149,000. Finally, Jupiter Asset Management Ltd. lifted its position in shares of Philip Morris International by 102.3% during the second quarter. Jupiter Asset Management Ltd. now owns 72,816 shares of the company’s stock worth $5,879,000 after acquiring an additional 36,816 shares in the last quarter. 72.93% of the stock is owned by institutional investors and hedge funds.

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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