Hollencrest Capital Management lessened its stake in shares of Philip Morris International Inc. (NYSE:PM) by 6.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 103,063 shares of the company’s stock after selling 7,336 shares during the period. Philip Morris International comprises approximately 1.2% of Hollencrest Capital Management’s investment portfolio, making the stock its 17th biggest holding. Hollencrest Capital Management’s holdings in Philip Morris International were worth $9,110,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan bought a new position in Philip Morris International in the fourth quarter worth approximately $5,362,000. Thrivent Financial for Lutherans raised its stake in Philip Morris International by 25.1% in the third quarter. Thrivent Financial for Lutherans now owns 181,402 shares of the company’s stock worth $14,791,000 after buying an additional 36,357 shares in the last quarter. Aviance Capital Management LLC purchased a new position in Philip Morris International in the fourth quarter worth $2,333,000. Avalon Advisors LLC grew its holdings in Philip Morris International by 5,917.2% in the fourth quarter. Avalon Advisors LLC now owns 1,250,502 shares of the company’s stock worth $83,484,000 after purchasing an additional 1,229,720 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in Philip Morris International by 31.7% in the fourth quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 8,800 shares of the company’s stock worth $587,000 after purchasing an additional 2,120 shares during the last quarter. 73.53% of the stock is owned by hedge funds and other institutional investors.
Philip Morris International stock opened at $86.21 on Wednesday. Philip Morris International Inc. has a 1-year low of $64.67 and a 1-year high of $103.55. The company has a market capitalization of $134.09 billion, a PE ratio of 16.90, a PEG ratio of 1.93 and a beta of 0.95.
Philip Morris International (NYSE:PM) last posted its quarterly earnings results on Thursday, February 7th. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.09. Philip Morris International had a net margin of 9.90% and a negative return on equity of 76.82%. The business had revenue of $7.50 billion during the quarter, compared to analysts’ expectations of $7.46 billion. During the same quarter in the prior year, the company posted $1.32 EPS. The business’s revenue for the quarter was down 9.6% on a year-over-year basis. As a group, sell-side analysts forecast that Philip Morris International Inc. will post 5.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Tuesday, March 26th were given a dividend of $1.14 per share. The ex-dividend date was Monday, March 25th. This represents a $4.56 dividend on an annualized basis and a dividend yield of 5.29%. Philip Morris International’s payout ratio is currently 89.41%.
Several equities analysts have issued reports on PM shares. Piper Jaffray Companies set a $100.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a report on Friday, February 8th. UBS Group raised shares of Philip Morris International from a “neutral” rating to a “buy” rating and upped their price target for the company from $86.00 to $101.00 in a report on Wednesday, February 27th. Zacks Investment Research raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Thursday, February 14th. Citigroup upped their price target on shares of Philip Morris International from $90.00 to $102.00 and gave the company a “buy” rating in a report on Monday, March 25th. Finally, ValuEngine upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating in a research report on Friday, March 15th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $92.43.
In related news, CEO Andre Calantzopoulos sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $84.76, for a total transaction of $4,238,000.00. Following the completion of the transaction, the chief executive officer now owns 844,901 shares of the company’s stock, valued at approximately $71,613,808.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.
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About Philip Morris International
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other nicotine-containing products, and smoke-free products and related electronic devices and accessories. The company offers IQOS smoke-free products, including heated tobacco and nicotine-containing vapor products under the HEETS, HEETS Marlboro, and HEETS FROM MARLBORO brands, as well as the Marlboro HeatSticks and Parliament HeatSticks brands.
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