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

Investors purchased shares of Philip Morris International Inc (NYSE:PM) on weakness during trading hours on Tuesday. $155.44 million flowed into the stock on the tick-up and $108.87 million flowed out of the stock on the tick-down, for a money net flow of $46.57 million into the stock. Of all stocks tracked, Philip Morris International had the 9th highest net in-flow for the day. Philip Morris International traded down ($0.83) for the day and closed at $115.88

Several brokerages have recently issued reports on PM. Vetr lowered shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $117.88 price target for the company. in a report on Monday, June 19th. Jefferies Group LLC reissued a “hold” rating and issued a $121.00 price target on shares of Philip Morris International in a report on Tuesday, June 20th. BidaskClub raised shares of Philip Morris International from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 21st. Wells Fargo & Company reaffirmed an “outperform” rating on shares of Philip Morris International in a research report on Friday, June 9th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $134.00 price objective on shares of Philip Morris International in a research report on Thursday, June 1st. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $121.79.

The stock’s 50 day moving average price is $117.20 and its 200 day moving average price is $113.64. The stock has a market cap of $179.13 billion, a P/E ratio of 25.56 and a beta of 0.93.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by $0.09. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm had revenue of $6.92 billion for the quarter, compared to the consensus estimate of $7.11 billion. During the same period in the previous year, the business earned $1.15 earnings per share. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts predict that Philip Morris International Inc will post $4.83 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PM. Trust Co raised its position in Philip Morris International by 4.4% in the fourth quarter. Trust Co now owns 8,230 shares of the company’s stock worth $753,000 after buying an additional 348 shares during the last quarter. Catawba Capital Management VA raised its position in Philip Morris International by 7.9% in the first quarter. Catawba Capital Management VA now owns 13,892 shares of the company’s stock worth $1,568,000 after buying an additional 1,012 shares during the last quarter. Acropolis Investment Management LLC purchased a new position in Philip Morris International during the first quarter worth $117,000. West Oak Capital LLC raised its position in Philip Morris International by 4.1% in the first quarter. West Oak Capital LLC now owns 6,300 shares of the company’s stock worth $711,000 after buying an additional 250 shares during the last quarter. Finally, Independence Advisors LLC purchased a new position in Philip Morris International during the first quarter worth $244,000. 72.30% 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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