Asset Management One Co. Ltd. Has $162.02 Million Stock Position in Philip Morris International Inc. $PM

Asset Management One Co. Ltd. reduced its position in Philip Morris International Inc. (NYSE:PM) by 2.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 889,566 shares of the company’s stock after selling 25,621 shares during the period. Philip Morris International accounts for approximately 0.5% of Asset Management One Co. Ltd.’s investment portfolio, making the stock its 29th largest holding. Asset Management One Co. Ltd. owned approximately 0.06% of Philip Morris International worth $162,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Linscomb Wealth Inc. increased its stake in shares of 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 buying an additional 2,669 shares during the period. Mackenzie Financial Corp increased its stake in shares of 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 increased its stake in shares of 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 increased its stake in shares of 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, First American Trust FSB increased its stake in shares of Philip Morris International by 80.0% in the 1st quarter. First American Trust FSB now owns 56,382 shares of the company’s stock valued at $8,949,000 after buying an additional 25,063 shares during the period. 78.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on PM shares. KGI Securities started coverage on Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a report on Wednesday. Stifel Nicolaus set a $180.00 target price on Philip Morris International in a report on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Philip Morris International in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their target price on Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, July 10th. Twelve research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $194.00.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $158.03 on Friday. Philip Morris International Inc. has a 1 year low of $116.12 and a 1 year high of $186.69. The business has a 50-day moving average of $162.50 and a two-hundred day moving average of $168.77. The company has a market capitalization of $245.99 billion, a P/E ratio of 28.63, a price-to-earnings-growth ratio of 2.29 and a beta of 0.46.

Philip Morris International (NYSE:PM) last announced its quarterly earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 11.02%.The company had revenue of $8.12 billion during the quarter. On average, equities analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 20th. Shareholders of record on Friday, October 3rd were issued a $1.47 dividend. 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 is currently 106.52%.

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.