1,635 Shares in Philip Morris International Inc. (NYSE:PM) Purchased by Kerntke Otto McGlone Wealth Management Group

Kerntke Otto McGlone Wealth Management Group bought a new stake in Philip Morris International Inc. (NYSE:PM - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,635 shares of the company's stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Philip Morris International by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 139,432,392 shares of the company's stock worth $16,780,688,000 after purchasing an additional 1,167,810 shares during the last quarter. Capital World Investors raised its holdings in shares of Philip Morris International by 3.6% during the 4th quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after buying an additional 4,216,586 shares in the last quarter. GQG Partners LLC lifted its position in shares of Philip Morris International by 14.3% during the 4th quarter. GQG Partners LLC now owns 48,746,809 shares of the company's stock worth $5,866,678,000 after buying an additional 6,092,558 shares during the last quarter. Geode Capital Management LLC boosted its stake in Philip Morris International by 9.9% in the fourth quarter. Geode Capital Management LLC now owns 35,286,582 shares of the company's stock valued at $4,241,837,000 after buying an additional 3,185,258 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Philip Morris International by 3.1% in the fourth quarter. Wellington Management Group LLP now owns 17,276,790 shares of the company's stock valued at $2,079,262,000 after buying an additional 516,617 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PM shares. Morgan Stanley reissued an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a report on Thursday, April 24th. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating for the company. Jefferies Financial Group assumed coverage on shares of Philip Morris International in a research report on Wednesday. They issued a "buy" rating and a $220.00 target price on the stock. Bank of America upped their price target on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $185.73.

Philip Morris International Stock Down 0.7%

Shares of NYSE:PM opened at $179.73 on Friday. The firm has a market cap of $279.75 billion, a P/E ratio of 37.06, a P/E/G ratio of 2.61 and a beta of 0.51. Philip Morris International Inc. has a 12-month low of $104.84 and a 12-month high of $186.69. The business has a fifty day simple moving average of $178.05 and a 200 day simple moving average of $156.75.

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

Philip Morris International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, June 27th. Philip Morris International's dividend payout ratio is 111.34%.

Philip Morris International Company 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.

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