Philip Morris International Target of Unusually Large Options Trading (NYSE:PM)

Philip Morris International Inc. (NYSE:PMGet Free Report) saw unusually large options trading activity on Tuesday. Stock traders purchased 26,405 call options on the stock. This represents an increase of 295% compared to the average daily volume of 6,689 call options.

Philip Morris International Stock Performance

NYSE PM opened at $94.99 on Wednesday. The stock has a market capitalization of $147.47 billion, a P/E ratio of 18.92, a P/E/G ratio of 2.13 and a beta of 0.61. The business’s fifty day moving average is $91.88 and its two-hundred day moving average is $92.56. Philip Morris International has a 1 year low of $87.23 and a 1 year high of $101.92.

Philip Morris International (NYSE:PMGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.08). Philip Morris International had a negative return on equity of 116.29% and a net margin of 8.53%. The company had revenue of $9.05 billion for the quarter, compared to analyst estimates of $8.99 billion. During the same quarter in the previous year, the firm posted $1.39 EPS. Philip Morris International’s quarterly revenue was up 11.0% on a year-over-year basis. On average, research analysts forecast that Philip Morris International will post 6.39 earnings per share for the current year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Shareholders of record on Thursday, March 21st will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.47%. The ex-dividend date of this dividend is Wednesday, March 20th. Philip Morris International’s dividend payout ratio (DPR) is currently 103.59%.

Insiders Place Their Bets

In other Philip Morris International news, insider Massimo Andolina sold 8,250 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the transaction, the insider now owns 94,629 shares in the company, valued at approximately $8,860,113.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Reginaldo Dobrowolski sold 2,000 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $90.69, for a total transaction of $181,380.00. Following the sale, the vice president now owns 9,726 shares in the company, valued at $882,050.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Massimo Andolina sold 8,250 shares of Philip Morris International stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $93.63, for a total value of $772,447.50. Following the completion of the transaction, the insider now owns 94,629 shares of the company’s stock, valued at $8,860,113.27. The disclosure for this sale can be found here. Insiders sold a total of 15,250 shares of company stock worth $1,411,128 over the last ninety days. 0.15% of the stock is owned by company insiders.

Institutional Trading of Philip Morris International

Hedge funds and other institutional investors have recently modified their holdings of the business. Fairfield Bush & CO. raised its holdings in shares of Philip Morris International by 1.1% during the first quarter. Fairfield Bush & CO. now owns 26,141 shares of the company’s stock worth $2,456,000 after acquiring an additional 281 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Philip Morris International by 35.6% during the 1st quarter. American Century Companies Inc. now owns 4,939 shares of the company’s stock valued at $463,000 after buying an additional 1,296 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in shares of Philip Morris International by 24.7% in the 1st quarter. Loomis Sayles & Co. L P now owns 3,065 shares of the company’s stock valued at $288,000 after buying an additional 608 shares in the last quarter. Covestor Ltd increased its holdings in Philip Morris International by 54.9% in the first quarter. Covestor Ltd now owns 525 shares of the company’s stock worth $49,000 after buying an additional 186 shares during the last quarter. Finally, Mather Group LLC. raised its position in Philip Morris International by 14.7% during the first quarter. Mather Group LLC. now owns 8,987 shares of the company’s stock valued at $844,000 after acquiring an additional 1,154 shares in the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PM. UBS Group cut Philip Morris International from a “buy” rating to a “sell” rating and cut their target price for the company from $105.00 to $86.50 in a research note on Tuesday, January 23rd. JPMorgan Chase & Co. boosted their price objective on Philip Morris International from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 29th. Societe Generale raised Philip Morris International from a “sell” rating to a “hold” rating and set a $87.50 target price on the stock in a research note on Tuesday, February 13th. Finally, Argus reissued a “hold” rating on shares of Philip Morris International in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International presently has a consensus rating of “Hold” and an average target price of $105.40.

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About Philip Morris International

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Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.

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