Klingman & Associates LLC Raises Stake in Philip Morris International Inc. (NYSE:PM)

Klingman & Associates LLC lifted its position in shares of Philip Morris International Inc. (NYSE:PM) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,315 shares of the company’s stock after buying an additional 324 shares during the quarter. Klingman & Associates LLC’s holdings in Philip Morris International were worth $399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Valley Wealth Managers Inc. grew its holdings in shares of Philip Morris International by 457.5% during the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after buying an additional 183 shares in the last quarter. Dunhill Financial LLC grew its holdings in shares of Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock worth $29,000 after buying an additional 161 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $33,000. Concord Wealth Partners grew its holdings in shares of Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock worth $38,000 after buying an additional 298 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of Philip Morris International during the fourth quarter worth about $37,000. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Philip Morris International

In other news, VP Reginaldo Dobrowolski sold 5,000 shares of the business’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the transaction, the vice president now directly owns 20,799 shares of the company’s stock, valued at approximately $3,117,354.12. The trade was a 19.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Philip Morris International Stock Down 1.1 %

Shares of PM stock opened at $148.85 on Wednesday. The stock has a market cap of $231.43 billion, a price-to-earnings ratio of 33.00, a price-to-earnings-growth ratio of 2.63 and a beta of 0.55. Philip Morris International Inc. has a fifty-two week low of $87.82 and a fifty-two week high of $151.22. The firm’s 50 day moving average price is $128.31 and its two-hundred day moving average price is $125.73.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. On average, equities analysts forecast that Philip Morris International Inc. will post 7.13 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.63%. Philip Morris International’s payout ratio is currently 119.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday. Stifel Nicolaus raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays decreased their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Morgan Stanley initiated coverage on shares of Philip Morris International in a research report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.22.

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.