Lone Pine Capital LLC Decreases Stake in Philip Morris International Inc. $PM

by · The Markets Daily

Lone Pine Capital LLC trimmed its holdings in shares of Philip Morris International Inc. (NYSE:PM – Free Report) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,757,694 shares of the company’s stock after selling 250,848 shares during the quarter. Philip Morris International accounts for about 3.6% of Lone Pine Capital LLC’s investment portfolio, making the stock its 16th biggest position. Lone Pine Capital LLC owned approximately 0.18% of Philip Morris International worth $502,259,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Legacy Investment Solutions LLC purchased a new stake in Philip Morris International during the 2nd quarter worth approximately $25,000. Traub Capital Management LLC acquired a new stake in shares of Philip Morris International during the second quarter worth approximately $25,000. Abound Wealth Management grew its position in shares of Philip Morris International by 566.7% during the second 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. Estabrook Capital Management bought a new stake in shares of Philip Morris International in the second quarter worth $30,000. Finally, Briaud Financial Planning Inc raised its holdings in 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 acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Philip Morris International Trading Up 1.7%

NYSE:PM opened at $153.49 on Friday. The stock has a 50 day moving average of $153.62 and a 200-day moving average of $165.35. The firm has a market capitalization of $238.93 billion, a PE ratio of 27.81, a price-to-earnings-growth ratio of 1.80 and a beta of 0.42. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

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

Philip Morris International Announces Dividend

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Barclays decreased their price objective on shares of Philip Morris International from $220.00 to $180.00 and set an “overweight” rating for the company in a report on Monday, November 17th. Stifel Nicolaus set a $180.00 price target on Philip Morris International in a research note on Tuesday, October 21st. JPMorgan Chase & Co. cut their price objective on Philip Morris International from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. UBS Group decreased their target price on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a research report on Friday, September 5th. Finally, Morgan Stanley set a $175.00 price target on Philip Morris International and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $189.00.

Check Out Our Latest Stock Report on PM

About Philip Morris International

(Free Report)

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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