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 $11.05 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.
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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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 Vanguard 500 Index Fund. Vanguard Total Stock Market ETF owns 48.75 million shares of the company’s stock, all valued at over $4.59 billion. The company bought an additional 96274.0 shares recently to bring their total holdings to about 3.14% of the shares outstanding. American Balanced Fund sold -1.97 million shares to see its total holdings shrink to 39.91 million shares valued at over $3.75 billion and representing 2.57% of the shares outstanding. Vanguard 500 Index Fund bought 74553.0 shares to bring its total holdings to over 37.91 million shares at a value of $3.57 billion. Vanguard 500 Index Fund now owns shares totaling to 2.44% of the shares outstanding.
However, the script later moved the day high at 91.99, down -0.68%. The company’s stock has a 5-day price change of -2.87% and -0.82% over the past three months. PM shares are trading -2.42% year to date (YTD), with the 12-month market performance down to -9.84% 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 4.55 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 -2.64%, -1.59%, and -2.96% respectively.
Institutional ownership of Philip Morris International Inc (NYSE: PM) shares accounts for 78.94% of the company’s 1.55B shares outstanding. Mutual fund holders own 27.67%, while other institutional holders and individual stakeholders account for 51.45% and 0.53% respectively.
It has a market capitalization of $142.51B and a beta (3y monthly) value of 0.65. The stock’s trailing 12-month PE ratio is 17.84, while the earnings-per-share (ttm) stands at $5.15. The company has a PEG of 3.03 and a Quick Ratio of 0.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.51% over the week and 1.35% over the month.
Analysts forecast that Philip Morris International Inc (PM) will achieve an EPS of $1.44 for the current quarter, $1.41 for the next quarter and $6.55 for 2024. The lowest estimate earnings-per-share for the quarter is $1.38 while analysts give the company a high EPS estimate of $1.5. Comparatively, EPS for the current quarter was $1.39 a year ago. Earnings per share for the fiscal year are expected to increase by 2.38%, and 7.16% 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.
Looking at the support for the PM, a number of firms have released research notes about the stock. UBS stated their Sell rating for the stock in a research note on Jan-24-24, with the firm’s price target at $105-$86.50.
