Hollencrest Capital Management Grows Position in Philip Morris International Inc. (PM)

Hollencrest Capital Management increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 0.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 99,084 shares of the company’s stock after acquiring an additional 895 shares during the quarter. Philip Morris International accounts for 1.4% of Hollencrest Capital Management’s portfolio, making the stock its 14th biggest position. Hollencrest Capital Management’s holdings in Philip Morris International were worth $10,468,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Diversified Trust Co raised its position in Philip Morris International by 2.9% during the fourth quarter. Diversified Trust Co now owns 41,308 shares of the company’s stock valued at $4,364,000 after acquiring an additional 1,174 shares in the last quarter. State of Alaska Department of Revenue raised its position in Philip Morris International by 1,254.8% during the fourth quarter. State of Alaska Department of Revenue now owns 141,423 shares of the company’s stock valued at $14,939,000 after acquiring an additional 130,984 shares in the last quarter. New England Investment & Retirement Group Inc. raised its position in Philip Morris International by 2.8% during the fourth quarter. New England Investment & Retirement Group Inc. now owns 23,774 shares of the company’s stock valued at $2,512,000 after acquiring an additional 642 shares in the last quarter. Sterling Investment Management Inc. raised its position in Philip Morris International by 5.5% during the fourth quarter. Sterling Investment Management Inc. now owns 19,635 shares of the company’s stock valued at $2,074,000 after acquiring an additional 1,015 shares in the last quarter. Finally, Edge Wealth Management LLC raised its position in Philip Morris International by 106.6% during the fourth quarter. Edge Wealth Management LLC now owns 2,118 shares of the company’s stock valued at $224,000 after acquiring an additional 1,093 shares in the last quarter. 72.31% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the company. Zacks Investment Research cut Philip Morris International from a “hold” rating to a “sell” rating in a research report on Tuesday, October 24th. Piper Jaffray Companies reiterated an “overweight” rating and set a $137.00 price target (up from $130.00) on shares of Philip Morris International in a research report on Thursday, January 11th. Wells Fargo & Co reiterated an “outperform” rating and set a $135.00 price target (down from $140.00) on shares of Philip Morris International in a research report on Wednesday, November 15th. Citigroup cut their price objective on Philip Morris International from $117.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, January 16th. Finally, Jefferies Group upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research report on Friday, January 19th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $123.79.

Shares of Philip Morris International Inc. (PM) opened at $102.54 on Thursday. The company has a market capitalization of $159,270.00, a P/E ratio of 26.43, a PEG ratio of 1.92 and a beta of 0.85. Philip Morris International Inc. has a 12-month low of $96.66 and a 12-month high of $123.55. The company has a debt-to-equity ratio of -3.06, a current ratio of 1.35 and a quick ratio of 0.68.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, February 8th. The company reported $1.31 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.04). The business had revenue of $8.29 billion during the quarter, compared to analysts’ expectations of $8.17 billion. Philip Morris International had a net margin of 7.73% and a negative return on equity of 71.99%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 earnings per share. sell-side analysts anticipate that Philip Morris International Inc. will post 5.28 EPS for the current fiscal year.

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Philip Morris International Company Profile

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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