Freestone Capital Holdings LLC Grows Position in Philip Morris International Inc. (NYSE:PM)

Key Points

• Freestone Capital Holdings LLC increased its stake in Philip Morris International by 3.5% during the first quarter, now holding 44,849 shares valued at approximately $7.12 million.
• Philip Morris International reported $1.91 earnings per share (EPS) for the last quarter, exceeding the expected $1.86 EPS, with a net margin of 9.03% and revenue growth of 7.1% year-over-year.
• The company recently declared a quarterly dividend of $1.35 per share, equating to an annualized yield of 3.2%, but with a payout ratio currently at 102.66%.

Freestone Capital Holdings LLC boosted its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,849 shares of the company's stock after purchasing an additional 1,516 shares during the period. Freestone Capital Holdings LLC's holdings in Philip Morris International were worth $7,119,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Philip Morris International during the 1st quarter worth approximately $34,000. Pacifica Partners Inc. lifted its stake in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company's stock valued at $35,000 after acquiring an additional 115 shares during the period. Redmont Wealth Advisors LLC acquired a new stake in Philip Morris International during the 1st quarter valued at approximately $35,000. Ball & Co Wealth Management Inc. acquired a new stake in Philip Morris International during the 4th quarter valued at approximately $36,000. Finally, Ameriflex Group Inc. acquired a new stake in Philip Morris International during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Price Performance

PM opened at $166.19 on Friday. The firm has a fifty day moving average price of $174.84 and a 200 day moving average price of $164.79. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The stock has a market cap of $258.69 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.42 and a beta of 0.48.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion during the quarter, compared to analysts' expectations of $10.33 billion. Philip Morris International had a net margin of 9.03% and a negative return on equity of 120.86%. The business's revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.59 EPS. Equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date was Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.2%. Philip Morris International's dividend payout ratio is currently 102.66%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PM. Wall Street Zen cut shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Needham & Company LLC restated a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Stifel Nicolaus lifted their price objective on shares of Philip Morris International from $168.00 to $186.00 and gave the company a "buy" rating in a research note on Thursday, April 24th. Bank of America lifted their price objective on shares of Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Jefferies Financial Group began coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective for the company. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Philip Morris International currently has a consensus rating of "Moderate Buy" and an average target price of $186.27.

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.

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