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

Hollencrest Capital Management raised its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,340 shares of the company’s stock after purchasing an additional 1,179 shares during the quarter. Philip Morris International makes up approximately 0.8% of Hollencrest Capital Management’s portfolio, making the stock its 26th largest holding. Hollencrest Capital Management’s holdings in Philip Morris International were worth $19,260,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Pacifica Partners Inc. lifted its holdings in shares of Philip Morris International by 115.0% in the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock worth $35,000 after buying an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Philip Morris International in the first quarter worth about $35,000. Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter worth about $36,000. Ameriflex Group Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter worth about $36,000. Finally, Inlight Wealth Management LLC purchased a new stake in shares of Philip Morris International in the first quarter worth about $38,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PM has been the topic of a number of recent research reports. Wall Street Zen cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. raised their price target on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Jefferies Financial Group assumed coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a “buy” rating and a $220.00 price target for the company. UBS Group set a $181.00 price objective on Philip Morris International and gave the stock a “neutral” rating in a report on Monday. Finally, Barclays increased their price target on Philip Morris International from $220.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $186.73.

Philip Morris International Stock Down 0.3%

Shares of PM opened at $178.56 on Friday. Philip Morris International Inc. has a 12 month low of $106.76 and a 12 month high of $186.69. The company has a 50-day moving average price of $178.64 and a two-hundred day moving average price of $158.16. The stock has a market cap of $277.94 billion, a price-to-earnings ratio of 36.94, a P/E/G ratio of 2.63 and a beta of 0.51.

Philip Morris International (NYSE:PM) last issued its earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. Equities research analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Friday, June 27th. Philip Morris International’s payout ratio is presently 111.34%.

About Philip Morris International

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.