Freestone Capital Holdings LLC grew its position in Philip Morris International Inc. (NYSE:PM) by 11.1% during the first quarter, HoldingsChannel reports. The firm owned 43,938 shares of the company’s stock after acquiring an additional 4,400 shares during the period. Freestone Capital Holdings LLC’s holdings in Philip Morris International were worth $4,367,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Ledyard National Bank raised its stake in Philip Morris International by 2.3% during the 4th quarter. Ledyard National Bank now owns 20,224 shares of the company’s stock worth $2,137,000 after acquiring an additional 464 shares in the last quarter. Duncker Streett & Co. Inc. raised its stake in Philip Morris International by 3.3% during the 4th quarter. Duncker Streett & Co. Inc. now owns 15,454 shares of the company’s stock worth $1,633,000 after acquiring an additional 492 shares in the last quarter. Cibc Bank USA raised its stake in Philip Morris International by 1.1% during the 4th quarter. Cibc Bank USA now owns 47,224 shares of the company’s stock worth $4,989,000 after acquiring an additional 493 shares in the last quarter. DF Dent & Co. Inc. raised its stake in Philip Morris International by 14.0% during the 4th quarter. DF Dent & Co. Inc. now owns 4,027 shares of the company’s stock worth $425,000 after acquiring an additional 494 shares in the last quarter. Finally, Maryland Capital Management raised its stake in Philip Morris International by 1.7% during the 4th quarter. Maryland Capital Management now owns 29,249 shares of the company’s stock worth $3,090,000 after acquiring an additional 499 shares in the last quarter. Institutional investors and hedge funds own 72.34% of the company’s stock.
Several equities research analysts recently commented on the stock. ValuEngine lowered shares of Philip Morris International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, May 22nd. Zacks Investment Research lowered shares of Philip Morris International from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. Deutsche Bank set a $100.00 price target on shares of Philip Morris International and gave the stock a “buy” rating in a research note on Tuesday, April 24th. TheStreet lowered shares of Philip Morris International from a “b-” rating to a “c+” rating in a research note on Tuesday, March 20th. Finally, Cowen reiterated a “buy” rating and set a $105.00 price target on shares of Philip Morris International in a research note on Friday, April 20th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $116.86.
Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, April 19th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.12. The company had revenue of $6.90 billion for the quarter, compared to analyst estimates of $7.03 billion. Philip Morris International had a net margin of 7.50% and a negative return on equity of 72.40%. Philip Morris International’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 earnings per share. equities analysts anticipate that Philip Morris International Inc. will post 5.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Friday, June 22nd will be paid a $1.14 dividend. The ex-dividend date of this dividend is Thursday, June 21st. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.07. This represents a $4.56 dividend on an annualized basis and a yield of 5.69%. Philip Morris International’s payout ratio is currently 86.82%.
In other Philip Morris International news, insider Jerry Whitson acquired 3,000 shares of the company’s stock in a transaction on Wednesday, April 25th. The shares were bought at an average cost of $82.76 per share, for a total transaction of $248,280.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Miroslaw Zielinski acquired 6,000 shares of the company’s stock in a transaction on Friday, April 27th. The stock was acquired at an average price of $81.56 per share, for a total transaction of $489,360.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 49,000 shares of company stock worth $3,989,640. 0.22% of the stock is currently owned by company insiders.
Philip Morris International Profile
Philip Morris International Inc, through its subsidiaries, manufactures and sells cigarettes, other tobacco products, and other nicotine-containing products. Its portfolio of brands comprises Marlboro, Parliament, Bond Street, Chesterfield, L&M, Lark, Philip Morris, Merit, Virginia S., Muratti, and Next.
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