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Philip Morris Insiders Make Biggest Stock Buys in Years

Directors of Philip Morris International (PM) have made the biggest open-market purchases—both in dollar value and in share volume—by company insiders since 2013. Jennifer Li, chief executive of Baidu's (BIDU) Baidu Capital unit, bought 40,000 Philip Morris shares over May 11 and 14 for a total of $3.3 million, an average of $81.30 a share. Li now owns 62,300 shares of the tobacco giant.