Philip Morris International (NYSE:PM) Shares Gap Down - Time to Sell?

Philip Morris International Inc. (NYSE:PM - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $180.48, but opened at $169.62. Philip Morris International shares last traded at $166.56, with a volume of 6,575,090 shares.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PM shares. Barclays reaffirmed an "overweight" rating on shares of Philip Morris International in a research report on Tuesday. Bank of America raised their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Wall Street Zen raised shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday. Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 price objective (up previously from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Stifel Nicolaus lifted their price target on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $186.73.

Philip Morris International Stock Down 6.6%

The firm has a market cap of $262.52 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 2.56 and a beta of 0.51. The business has a 50 day simple moving average of $178.83 and a two-hundred day simple moving average of $159.09.

Philip Morris International (NYSE:PM - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.86 by $0.05. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The company had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The firm's revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts forecast that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Friday, June 27th. Philip Morris International's dividend payout ratio is currently 111.34%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. 49 Wealth Management LLC lifted its position in shares of Philip Morris International by 79.0% during the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock valued at $847,000 after acquiring an additional 2,354 shares during the last quarter. Cortland Associates Inc. MO increased its position in Philip Morris International by 704.0% during the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after buying an additional 125,171 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock valued at $69,695,000 after acquiring an additional 87,631 shares during the period. Brighton Jones LLC lifted its stake in shares of Philip Morris International by 31.1% in the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock valued at $1,027,000 after buying an additional 2,023 shares during the period. Finally, Symmetry Investments LP bought a new stake in shares of Philip Morris International in the fourth quarter valued at about $1,966,000. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Company Profile

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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