Klingman & Associates LLC Boosts Stock Position in Philip Morris International Inc. (NYSE:PM)

Klingman & Associates LLC boosted its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 38.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,577 shares of the company’s stock after purchasing an additional 1,262 shares during the quarter. Klingman & Associates LLC’s holdings in Philip Morris International were worth $727,000 as of its most recent SEC filing.

Other hedge funds and other institutional 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. increased its holdings in Philip Morris International by 115.0% during the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Philip Morris International during the 1st quarter worth approximately $35,000. Ball & Co Wealth Management Inc. purchased a new stake in Philip Morris International during the 4th quarter worth approximately $36,000. Finally, Ameriflex Group Inc. purchased a new stake in Philip Morris International during the 4th quarter worth approximately $36,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Price Performance

Shares of PM opened at $168.58 on Wednesday. The company has a market cap of $262.41 billion, a P/E ratio of 32.05, a PEG ratio of 2.48 and a beta of 0.48. The stock has a fifty day moving average price of $175.77 and a 200 day moving average price of $164.04. Philip Morris International Inc. has a 12 month low of $115.87 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.05. The firm had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.59 EPS. As a group, research 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 declared 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. This represents a $5.40 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, June 27th. Philip Morris International’s payout ratio is 102.66%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PM. KGI Securities began coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Wall Street Zen downgraded Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday. Barclays lowered their price target on Philip Morris International from $225.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, July 30th. Morgan Stanley reiterated an “overweight” rating and issued a $182.00 price target (up from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Finally, Citigroup reiterated an “overweight” rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $186.27.

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.