Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in Philip Morris International Inc. $PM

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,928,621 shares of the company’s stock after acquiring an additional 253,923 shares during the period. Philip Morris International accounts for 0.7% of Mitsubishi UFJ Asset Management Co. Ltd.’s portfolio, making the stock its 25th largest holding. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.32% of Philip Morris International worth $897,650,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PM. Parkside Financial Bank & Trust grew its position in shares of Philip Morris International by 8.0% during the second quarter. Parkside Financial Bank & Trust now owns 13,037 shares of the company’s stock valued at $2,374,000 after purchasing an additional 968 shares in the last quarter. Keystone Financial Services lifted its position in shares of Philip Morris International by 1.7% in the second quarter. Keystone Financial Services now owns 11,140 shares of the company’s stock worth $2,029,000 after buying an additional 184 shares in the last quarter. Aviva PLC boosted its stake in Philip Morris International by 0.6% during the second quarter. Aviva PLC now owns 59,964 shares of the company’s stock valued at $10,921,000 after buying an additional 387 shares during the last quarter. Prospera Financial Services Inc boosted its stake in Philip Morris International by 37.4% during the second quarter. Prospera Financial Services Inc now owns 25,780 shares of the company’s stock valued at $4,697,000 after buying an additional 7,014 shares during the last quarter. Finally, RWA Wealth Partners LLC grew its holdings in Philip Morris International by 3.8% during the 2nd quarter. RWA Wealth Partners LLC now owns 10,762 shares of the company’s stock valued at $1,960,000 after buying an additional 396 shares in the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Up 2.2%

PM stock opened at $153.26 on Friday. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69. The company has a 50-day moving average price of $158.30 and a 200 day moving average price of $168.34. The stock has a market cap of $238.58 billion, a PE ratio of 27.77, a P/E/G ratio of 2.17 and a beta of 0.43.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Tuesday, March 28th. The company reported $1.59 earnings per share for the quarter. The company had revenue of $8.12 billion for the quarter. Philip Morris International had a net margin of 9.33% and a negative return on equity of 122.14%. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Investors of record on Friday, October 3rd were issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, October 3rd. This is an increase from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is presently 106.52%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Philip Morris International in a report on Wednesday, October 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Philip Morris International in a research note on Wednesday, July 23rd. Stifel Nicolaus set a $180.00 price objective on shares of Philip Morris International in a research report on Tuesday, October 21st. Barclays reduced their target price on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, July 30th. Finally, KGI Securities began coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an “outperform” rating for the company. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $194.00.

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.