Investors Sell Philip Morris International (PM) on Strength (PM)
Traders sold shares of Philip Morris International Inc. (NYSE:PM) on strength during trading hours on Tuesday. $47.57 million flowed into the stock on the tick-up and $128.78 million flowed out of the stock on the tick-down, for a money net flow of $81.21 million out of the stock. Of all stocks tracked, Philip Morris International had the 16th highest net out-flow for the day. Philip Morris International traded up $0.03 for the day and closed at $80.33
A number of equities research analysts have recently weighed in on the company. ValuEngine raised Philip Morris International from a “strong sell” rating to a “sell” rating in a report on Monday, July 30th. Societe Generale cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. Argus raised Philip Morris International from a “hold” rating to a “buy” rating and set a $91.00 price target on the stock in a report on Wednesday, July 25th. JPMorgan Chase & Co. cut Philip Morris International from an “overweight” rating to a “neutral” rating in a report on Friday, July 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $93.00 price target on shares of Philip Morris International in a report on Friday, July 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $103.36.
The firm has a market capitalization of $123.32 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.75 and a beta of 0.82. The company has a quick ratio of 0.64, a current ratio of 1.15 and a debt-to-equity ratio of -2.76.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Wednesday, September 26th will be issued a dividend of $1.14 per share. The ex-dividend date is Tuesday, September 25th. This represents a $4.56 annualized dividend and a yield of 5.68%. Philip Morris International’s payout ratio is 92.49%.
A number of large investors have recently made changes to their positions in PM. Massachusetts Financial Services Co. MA grew its position in Philip Morris International by 4.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 34,065,506 shares of the company’s stock worth $2,750,449,000 after buying an additional 1,421,021 shares during the last quarter. Morgan Stanley grew its position in Philip Morris International by 23.9% in the second quarter. Morgan Stanley now owns 22,738,044 shares of the company’s stock worth $1,835,871,000 after buying an additional 4,386,487 shares during the last quarter. Bank of New York Mellon Corp grew its position in Philip Morris International by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 17,570,730 shares of the company’s stock worth $1,418,660,000 after buying an additional 258,809 shares during the last quarter. Flossbach Von Storch AG grew its position in Philip Morris International by 48.1% in the second quarter. Flossbach Von Storch AG now owns 14,212,696 shares of the company’s stock worth $1,147,533,000 after buying an additional 4,618,289 shares during the last quarter. Finally, Fundsmith Equity Fund L.P. acquired a new position in Philip Morris International in the second quarter worth approximately $845,763,000. 72.69% of the stock is currently owned by hedge funds and other institutional investors.
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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