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

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Philip Morris International Inc. (NYSE:PM) by 5.4% during the second quarter, HoldingsChannel.com reports. The fund owned 4,928,621 shares of the company’s stock after buying an additional 253,923 shares during the quarter. Philip Morris International makes up approximately 0.7% of Mitsubishi UFJ Asset Management Co. Ltd.’s investment portfolio, making the stock its 25th biggest holding. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Philip Morris International were worth $897,650,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new stake in Philip Morris International during the 2nd quarter valued at $25,000. Abound Wealth Management raised its holdings in shares of Philip Morris International by 566.7% in the second quarter. Abound Wealth Management now owns 160 shares of the company’s stock valued at $29,000 after acquiring an additional 136 shares in the last quarter. Briaud Financial Planning Inc lifted its stake in Philip Morris International by 266.7% in the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 120 shares during the period. Kelly Lawrence W & Associates Inc. CA bought a new position in Philip Morris International during the 1st quarter worth about $30,000. Finally, CBIZ Investment Advisory Services LLC increased its position in Philip Morris International by 405.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock valued at $32,000 after purchasing an additional 162 shares during the period. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Analysts Set New Price Targets

PM has been the topic of a number of recent research reports. Barclays dropped their price objective on shares of Philip Morris International from $225.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Philip Morris International in a research report on Wednesday, October 8th. UBS Group cut their price target on Philip Morris International from $177.00 to $166.00 and set a “neutral” rating on the stock in a report on Friday, September 5th. KGI Securities assumed coverage on Philip Morris International in a research note on Monday, August 4th. They set an “outperform” rating for the company. Finally, Citigroup restated a “buy” rating on shares of Philip Morris International in a report on Thursday, September 4th. Twelve investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $194.00.

Philip Morris International Stock Up 2.2%

Shares of PM opened at $153.26 on Friday. The company has a market capitalization of $238.58 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.17 and a beta of 0.43. The stock’s 50-day moving average price is $158.30 and its 200-day moving average price is $168.34. Philip Morris International Inc. has a 52 week low of $116.12 and a 52 week high of $186.69.

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

Philip Morris International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were given a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. This is a boost 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 106.52%.

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.