Klingenstein Fields & Co. LP Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

Klingenstein Fields & Co. LP reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,497 shares of the company’s stock after selling 643 shares during the period. Klingenstein Fields & Co. LP’s holdings in Philip Morris International were worth $1,507,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. NewSquare Capital LLC lifted its position in shares of Philip Morris International by 53.7% during the 4th quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $25,000 after buying an additional 72 shares in the last quarter. Pacifica Partners Inc. lifted its holdings in Philip Morris International by 115.0% during the first quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Philip Morris International in the first quarter worth approximately $35,000. Knuff & Co LLC bought a new position in shares of Philip Morris International in the fourth quarter worth approximately $36,000. Finally, Ball & Co Wealth Management Inc. purchased a new stake in shares of Philip Morris International in the fourth quarter worth $36,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Performance

NYSE PM opened at $177.55 on Wednesday. The stock has a 50 day moving average price of $176.63 and a 200-day moving average price of $153.71. Philip Morris International Inc. has a one year low of $100.80 and a one year high of $186.69. The company has a market capitalization of $276.36 billion, a P/E ratio of 36.61, a P/E/G ratio of 2.64 and a beta of 0.51.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same quarter last year, the business earned $1.50 earnings per share. Philip Morris International’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.04%. Philip Morris International’s payout ratio is presently 111.34%.

Analyst Ratings Changes

Several brokerages recently weighed in on PM. Argus raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Friday, March 14th. Stifel Nicolaus upped their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Needham & Company LLC assumed coverage on Philip Morris International in a research report on Thursday, May 22nd. They set a “buy” rating for the company. Morgan Stanley reissued 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, Barclays restated an “overweight” rating and issued a $220.00 price target (up from $205.00) on shares of Philip Morris International in a research note on Friday, June 13th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $176.80.

Philip Morris International 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.