Pittenger & Anderson Inc. Buys 3,250 Shares of Philip Morris International Inc. (NYSE:PM)

Pittenger & Anderson Inc. grew its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 31.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,500 shares of the company's stock after acquiring an additional 3,250 shares during the quarter. Pittenger & Anderson Inc.'s holdings in Philip Morris International were worth $2,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PM. 49 Wealth Management LLC increased 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 worth $847,000 after buying an additional 2,354 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased 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 worth $69,695,000 after buying an additional 87,631 shares in the last quarter. Brighton Jones LLC increased its holdings in Philip Morris International by 31.1% in the 4th quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares in the last quarter. Symmetry Investments LP bought a new stake in Philip Morris International in the 4th quarter worth about $1,966,000. Finally, Cortland Associates Inc. MO increased 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 worth $22,690,000 after buying an additional 125,171 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 0.7%

Shares of NYSE:PM opened at $179.73 on Monday. The stock has a 50 day moving average of $178.05 and a 200 day moving average of $157.00. The company has a market cap of $279.75 billion, a PE ratio of 37.06, a price-to-earnings-growth ratio of 2.60 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.

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

Philip Morris International Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PM shares. JPMorgan Chase & Co. lifted their price objective on Philip Morris International from $175.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday. Stifel Nicolaus lifted their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. UBS Group upgraded Philip Morris International from a "sell" rating to a "neutral" rating and boosted their price target for the company from $130.00 to $170.00 in a research note on Friday, April 25th. Bank of America boosted their price target on Philip Morris International from $182.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Jefferies Financial Group started coverage on Philip Morris International in a research note on Wednesday, July 9th. They set a "buy" rating and a $220.00 price target for the company. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $185.73.

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.