Insider Buying: Philip Morris International Director Purchases 1,000 Shares of Stock (PM)
Philip Morris International (NYSE:PM) Director Sergio Marchionne purchased 1,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The shares were purchased at an average price of $85.10 per share, for a total transaction of $85,100.00. Following the acquisition, the director now directly owns 57,734 shares of the company’s stock, valued at approximately $4,913,163. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Philip Morris International (NYSE:PM) traded down 0.34% during mid-day trading on Wednesday, hitting $85.09. 2,441,297 shares of the company’s stock traded hands. Philip Morris International has a 52 week low of $75.28 and a 52 week high of $91.81. The stock has a 50-day moving average of $84.52 and a 200-day moving average of $83.86. The company has a market cap of $132.9 billion and a price-to-earnings ratio of 16.96.
Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 17th. The company reported $1.41 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.24 by $0.17. The company had revenue of $7.80 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter last year, the company posted $1.30 earnings per share. Philip Morris International’s revenue was down 1.5% compared to the same quarter last year. Analysts expect that Philip Morris International will post $5.17 EPS for the current fiscal year.
A number of analysts have recently weighed in on PM shares. Analysts at Zacks reiterated a “neutral” rating on shares of Philip Morris International in a research note on Thursday, August 14th. They now have a $89.00 price target on the stock. Separately, analysts at BNP Paribas raised their price target on shares of Philip Morris International from $85.00 to $88.00 in a research note on Friday, July 18th. Finally, analysts at Nomura raised their price target on shares of Philip Morris International from $74.20 to $74.80 in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $89.75.
Philip Morris International Inc (NYSE:PM) is a holding company.
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