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

Klingman & Associates LLC increased its position in shares of Philip Morris International Inc. (NYSE:PM) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,315 shares of the company’s stock after buying an additional 324 shares during the period. Klingman & Associates LLC’s holdings in Philip Morris International were worth $399,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in Philip Morris International by 0.4% during the third quarter. State Street Corp now owns 54,711,621 shares of the company’s stock valued at $6,715,237,000 after purchasing an additional 224,840 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Philip Morris International by 2.0% during the third quarter. Geode Capital Management LLC now owns 32,101,324 shares of the company’s stock valued at $3,886,818,000 after purchasing an additional 621,034 shares in the last quarter. FMR LLC lifted its holdings in Philip Morris International by 40.9% during the third quarter. FMR LLC now owns 23,168,446 shares of the company’s stock valued at $2,812,649,000 after purchasing an additional 6,721,094 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Philip Morris International by 3.0% during the third quarter. Franklin Resources Inc. now owns 13,000,570 shares of the company’s stock valued at $1,560,752,000 after purchasing an additional 376,406 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Philip Morris International by 57.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 9,241,612 shares of the company’s stock valued at $1,121,932,000 after purchasing an additional 3,363,454 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

Philip Morris International Trading Down 1.1 %

Shares of NYSE:PM opened at $148.85 on Wednesday. Philip Morris International Inc. has a 52 week low of $87.82 and a 52 week high of $151.22. The company’s 50 day moving average is $128.31 and its two-hundred day moving average is $125.73. The company has a market cap of $231.43 billion, a PE ratio of 33.00, a P/E/G ratio of 2.63 and a beta of 0.55.

Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $1.55 EPS 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%. As a group, equities research analysts expect that Philip Morris International Inc. will post 7.13 EPS for the current year.

Philip Morris International Dividend Announcement

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

Insider Activity at Philip Morris International

In other Philip Morris International news, VP Reginaldo Dobrowolski sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $149.88, for a total transaction of $749,400.00. Following the completion of the transaction, the vice president now directly owns 20,799 shares in the company, valued at approximately $3,117,354.12. This trade represents a 19.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PM shares. JPMorgan Chase & Co. increased their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com downgraded shares of Philip Morris International from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Barclays cut their price objective on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus increased their price objective on shares of Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, UBS Group raised their price target on shares of Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.