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Philip Morris Director Buys 1,000 Shares (PM)

Philip Morris International Inc. (NYSE: PM) Director Sergio Marchionne bought 1,000 shares of PM stock at $87.88 per share.

This is the fifth time in the past twelve months that Marchionne has bought PM shares. Marchionne had purchased the shares at an average price of $76.44 per share on the previous four occasions.

PM shares rose sharply in trading on Friday. The stock touched an intra-day high of $90.99 before finishing the day 1.92% higher at $90.30on above average volume of 6.68 million. PM shares have gained 15.06% so far this year, compared to a gain of 10.21% for the S&P 500.

Philip Morris, which is engaged in the manufacture and sale of cigarettes and other tobacco products in markets outside of the U.S., recently reported its second-quarter financial results.

For the second quarter of 2012, PM reported diluted earnings per share of $1.36, compared to $1.35 per share reported for the same period in the previous year. Cigarette shipment volume dropped 1.2% in the second quarter.

PM reported net revenue of $8.1 billion for the second quarter, down 1.8% over the same period last year. Operating income for the quarter dropped 2.9% to $3.6 billion.

CEO Louis C. Camilleri said that despite the anticipated Japan hurdle and currency headwinds, PM had a solid second quarter which underscored the company’s sustained business momentum. Camilleri said that PM’s broad geographic footprint, world-class brand portfolio and a strong pricing environment remain the cornerstone of the company’s continuing ability to capitalize on growth opportunities around the world, whilst enabling it to weather uncertainty in those markets where economic conditions are still currently weak.


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All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.