Klingman & Associates LLC Has $1.21 Million Stake in Philip Morris International Inc. $PM

Key Points

• Klingman & Associates LLC increased its stake in Philip Morris International Inc. by 44.5% in Q2, bringing their total investment to approximately $1.21 million.
• Several hedge funds have also increased their holdings in the company, with 78.63% of the stock owned by institutional investors.
• Philip Morris International announced a dividend increase, declaring a quarterly dividend of $1.47 per share, which marks an increase from the previous $1.35.

Klingman & Associates LLC raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 44.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,615 shares of the company's stock after purchasing an additional 2,038 shares during the period. Klingman & Associates LLC's holdings in Philip Morris International were worth $1,205,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. PFS Partners LLC grew its position in Philip Morris International by 24.8% during the second quarter. PFS Partners LLC now owns 292 shares of the company's stock worth $53,000 after buying an additional 58 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Philip Morris International by 0.4% during the 1st quarter. Perigon Wealth Management LLC now owns 14,087 shares of the company's stock worth $2,236,000 after purchasing an additional 60 shares in the last quarter. TBH Global Asset Management LLC grew its holdings in shares of Philip Morris International by 0.9% during the 1st quarter. TBH Global Asset Management LLC now owns 6,932 shares of the company's stock worth $1,100,000 after purchasing an additional 61 shares in the last quarter. Uncommon Cents Investing LLC increased its position in shares of Philip Morris International by 1.1% in the second quarter. Uncommon Cents Investing LLC now owns 5,666 shares of the company's stock worth $1,032,000 after purchasing an additional 61 shares during the period. Finally, NFP Retirement Inc. raised its stake in Philip Morris International by 2.5% in the first quarter. NFP Retirement Inc. now owns 2,589 shares of the company's stock valued at $411,000 after purchasing an additional 62 shares in the last quarter. 78.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PM shares. Jefferies Financial Group began coverage on shares of Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price objective on the stock. UBS Group reduced their price target on shares of Philip Morris International from $177.00 to $166.00 and set a "neutral" rating on the stock in a research report on Friday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of Philip Morris International from $175.00 to $190.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. KGI Securities initiated coverage on Philip Morris International in a research note on Monday, August 4th. They set an "outperform" rating for the company. Finally, Wall Street Zen lowered Philip Morris International from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $195.44.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $157.90 on Tuesday. The company's 50 day moving average price is $163.15 and its two-hundred day moving average price is $168.92. The firm has a market capitalization of $245.78 billion, a P/E ratio of 30.02, a P/E/G ratio of 2.31 and a beta of 0.46. Philip Morris International Inc. has a fifty-two week low of $116.12 and a fifty-two week high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 EPS for the quarter. The company had revenue of $8.12 billion during the quarter. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. On average, analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current year.

Philip Morris International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were issued a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.7%. This is an increase from Philip Morris International's previous quarterly dividend of $1.35. The ex-dividend date was Friday, October 3rd. Philip Morris International's dividend payout ratio (DPR) is presently 111.79%.

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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.