Klingman & Associates LLC Grows Holdings in Philip Morris International Inc. (NYSE:PM)

Klingman & Associates LLC raised its position in Philip Morris International Inc. (NYSE:PM) by 38.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,577 shares of the company’s stock after purchasing an additional 1,262 shares during the period. Klingman & Associates LLC’s holdings in Philip Morris International were worth $727,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. lifted its holdings in Philip Morris International by 3.3% in the 1st quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company’s stock valued at $13,207,000 after purchasing an additional 2,669 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Philip Morris International by 7.3% in the 1st quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company’s stock valued at $568,873,000 after buying an additional 242,799 shares during the period. 49 Wealth Management LLC grew its holdings in Philip Morris International by 79.0% in the 1st quarter. 49 Wealth Management LLC now owns 5,334 shares of the company’s stock valued at $847,000 after buying an additional 2,354 shares during the period. Cortland Associates Inc. MO grew its holdings in Philip Morris International by 704.0% in the 1st quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company’s stock valued at $22,690,000 after buying an additional 125,171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Philip Morris International by 24.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company’s stock valued at $69,695,000 after buying an additional 87,631 shares during the period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PM has been the subject of several recent analyst reports. Citigroup restated an “overweight” rating on shares of Philip Morris International in a report on Tuesday, July 22nd. Wall Street Zen cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley restated an “overweight” rating and issued a $182.00 price target (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on Philip Morris International from $175.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, Needham & Company LLC restated a “buy” rating and issued a $195.00 price target on shares of Philip Morris International in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.27.

Philip Morris International Price Performance

NYSE PM opened at $168.58 on Wednesday. The business’s 50-day simple moving average is $175.77 and its 200-day simple moving average is $164.04. The firm has a market capitalization of $262.41 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.48 and a beta of 0.48. Philip Morris International Inc. has a 1-year low of $115.87 and a 1-year high of $186.69.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Tuesday, July 22nd. The company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to analyst estimates of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. Philip Morris International’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.59 EPS. On average, equities research analysts expect 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 was paid on Tuesday, July 15th. Investors of record on Friday, June 27th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, June 27th. This represents a $5.40 annualized dividend and a yield of 3.2%. Philip Morris International’s payout ratio is 102.66%.

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.