Philip Morris International Inc. $PM Stock Position Cut by Lone Pine Capital LLC

Lone Pine Capital LLC trimmed its stake in shares of Philip Morris International Inc. (NYSE:PM) by 8.3% during the second quarter, Holdings Channel reports. The institutional investor owned 2,757,694 shares of the company’s stock after selling 250,848 shares during the period. Philip Morris International makes up about 3.6% of Lone Pine Capital LLC’s holdings, making the stock its 16th largest position. Lone Pine Capital LLC’s holdings in Philip Morris International were worth $502,259,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Philip Morris International during the second quarter worth approximately $25,000. Traub Capital Management LLC acquired a new position in shares of Philip Morris International during the 2nd quarter valued at $25,000. Abound Wealth Management raised its stake in shares of Philip Morris International by 566.7% in the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after buying an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new stake in shares of Philip Morris International in the first quarter valued at $30,000. Finally, Briaud Financial Planning Inc lifted its holdings in shares of Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock valued at $30,000 after buying an additional 120 shares during the period. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Price Performance

Shares of PM opened at $153.49 on Friday. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69. The company has a 50-day moving average of $153.62 and a two-hundred day moving average of $165.35. The stock has a market cap of $238.93 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 1.80 and a beta of 0.42.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. The business had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Analysts anticipate that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, December 26th will be issued a $1.47 dividend. The ex-dividend date is Friday, December 26th. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.8%. Philip Morris International’s dividend payout ratio is presently 106.52%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PM shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Barclays lowered their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Morgan Stanley set a $175.00 target price on shares of Philip Morris International and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Wall Street Zen upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Monday, November 17th. Finally, Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Twelve research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $189.00.

Philip Morris International Company Profile

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.