Capital Research & Management Co recently announced the acquisition of new stake in Philip Morris International Inc (NYSE:PM). The institutional investor has increased its shareholding in the Consumer Defensive company by 1.08% to 117.44 million shares with purchase of 1.26 million shares. This fresh investment now brings its stake to 7.57% valued currently at $10.96 billion. In addition, Capital Research & Management Co raised its holdings by 1.99 million to 53.55 million shares. And Geode Capital Management LLC has lifted its position by 2.10% or 0.6 million shares – to 29.09 million shares.
With over 4.51 million Philip Morris International Inc (PM) shares trading Tuesday and a closing price of $95.59 on the day, the dollar volume was approximately $430.68 million. The shares have shown a negative half year performance of -3.05% and its price on 01/09/24 lost nearly -0.73%. Currently, there are 1.55B common shares owned by the public and among those 1.55B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for PM have a consensus price objective of $108.70. The analysts have set the share’s price value over the next 12 months at a high of $130.00 and a low of $85.50. The average price target is 12.06% above its recent price level and a downside to the estimated low will see the stock lose -11.8% over that period. But an upside of 26.47% will see the stock hit the forecast high price target while median target price for the stock is $109.00.
Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 505,142 shares. Insider sales of the common stock occurred on 16 occasions, with total insider shares sold totaling 215,099 shares.
The top 3 mutual fund holders in Philip Morris International Inc are Vanguard Total Stock Market ETF, American Balanced Fund, and American Funds Income Fund of Ame. Vanguard Total Stock Market ETF owns 48.65 million shares of the company’s stock, all valued at over $4.54 billion. The company bought an additional 58838.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. American Balanced Fund bought 0.19 million shares to see its total holdings expand to 41.89 million shares valued at over $3.91 billion and representing 2.70% of the shares outstanding. American Funds Income Fund of Ame bought 0.53 million shares to bring its total holdings to over 37.51 million shares at a value of $3.5 billion. American Funds Income Fund of Ame now owns shares totaling to 2.42% of the shares outstanding.
Shares of Philip Morris International Inc (NYSE: PM) opened at $95.62, down -$0.67 from a prior closing price of $96.29. The company’s stock has a 5-day price change of 0.03% and 3.55% over the past three months. PM shares are trading 1.61% year to date (YTD), with the 12-month market performance down to -7.63% lower. It has a 12-month low price of $87.23 and touched a high of $105.62 over the same period. PM has an average intraday trading volume of 4.54 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.58%, 3.30%, and 1.01% respectively.
Institutional ownership of Philip Morris International Inc (NYSE: PM) shares accounts for 78.92% of the company’s 1.55B shares outstanding. Mutual fund holders own 27.53%, while other institutional holders and individual stakeholders account for 51.55% and 0.53% respectively.
It has a market capitalization of $148.39B and a beta (3y monthly) value of 0.65. The stock’s trailing 12-month PE ratio is 18.58, while the earnings-per-share (ttm) stands at $5.15. The company has a PEG of 3.15 and a Quick Ratio of 0.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.14% over the week and 1.33% over the month.
Analysts forecast that Philip Morris International Inc (PM) will achieve an EPS of $Zoom Video Communications, Inc. for the current quarter, $68.31 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $General Motors Company while analysts give the company a high EPS estimate of $Qualtrics International Inc.. Comparatively, EPS for the current quarter was $Procter & Gamble Company (The) a year ago. Earnings per share for the fiscal year are expected to increase by 2.26%, and 6.19% over the next financial year. EPS should shrink at an annualized rate of 5.89% over the next five years, compared to 8.43% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate Philip Morris International Inc (PM) as a “Strong Buy” at a consensus score of 1.67. Specifically, 14 Wall Street analysts polled rate the stock as a buy, while 4 of the 21 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the PM, a number of firms have released research notes about the stock. Redburn Atlantic stated their Neutral rating for the stock in a research note on November 16, 2023, with the firm’s price target at $95.
