Investors Buy Philip Morris International (PM) on Weakness

Investors bought shares of Philip Morris International Inc. (NYSE:PM) on weakness during trading on Wednesday. $184.83 million flowed into the stock on the tick-up and $92.40 million flowed out of the stock on the tick-down, for a money net flow of $92.43 million into the stock. Of all stocks tracked, Philip Morris International had the 4th highest net in-flow for the day. Philip Morris International traded down ($1.45) for the day and closed at $97.75

A number of brokerages have issued reports on PM. Morgan Stanley upped their price objective on shares of Philip Morris International from $120.00 to $123.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 30th. Bank of America reduced their price objective on shares of Philip Morris International from $115.00 to $113.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $126.00 price objective on shares of Philip Morris International in a research report on Thursday, February 8th. Citigroup reduced their price objective on shares of Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Finally, Zacks Investment Research raised shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $124.57.

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The company has a market capitalization of $158,025.61, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.91 and a beta of 0.85. The company has a current ratio of 1.35, a quick ratio of 0.80 and a debt-to-equity ratio of -3.06.

Philip Morris International (NYSE:PM) last released its earnings results on Thursday, February 8th. The company reported $1.31 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.17 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. analysts predict that Philip Morris International Inc. will post 5.27 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Thursday, March 22nd will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend is Wednesday, March 21st. Philip Morris International’s dividend payout ratio is currently 110.59%.

In related news, CEO Andre Calantzopoulos sold 49,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $103.66, for a total transaction of $5,079,340.00. Following the sale, the chief executive officer now directly owns 792,765 shares in the company, valued at approximately $82,178,019.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marc S. Firestone sold 13,650 shares of the company’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 transaction of $1,428,199.50. Following the sale, the insider now owns 189,199 shares in the company, valued at $19,795,891.37. The disclosure for this sale can be found here. 0.23% of the stock is owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. Vantage Investment Advisors LLC lifted its stake in Philip Morris International by 1.0% in the 2nd quarter. Vantage Investment Advisors LLC now owns 1,033 shares of the company’s stock worth $121,000 after purchasing an additional 10 shares in the last quarter. Front Row Advisors LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $118,000. Wolverine Asset Management LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $126,000. Financial Engines Advisors L.L.C. lifted its stake in Philip Morris International by 399.2% in the 3rd quarter. Financial Engines Advisors L.L.C. now owns 1,203 shares of the company’s stock worth $134,000 after purchasing an additional 962 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Philip Morris International in the 4th quarter worth approximately $128,000. Institutional investors own 72.20% of the company’s stock.

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About Philip Morris International

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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