Asset Management One Co. Ltd. reduced its position in Philip Morris International Inc (NYSE:PM) by 7.9% during the first quarter, Holdings Channel reports. The fund owned 2,604,569 shares of the company’s stock after selling 222,114 shares during the period. Philip Morris International makes up 0.8% of Asset Management One Co. Ltd.’s investment portfolio, making the stock its 22nd largest position. Asset Management One Co. Ltd.’s holdings in Philip Morris International were worth $294,220,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Advantage Investment Management LLC acquired a new position in shares of Philip Morris International during the fourth quarter worth approximately $873,000. Comprehensive Portfolio Management LLC acquired a new position in shares of Philip Morris International during the fourth quarter worth approximately $700,000. PagnatoKarp Partners LLC acquired a new position in shares of Philip Morris International during the fourth quarter worth approximately $402,000. GSB Wealth Management LLC acquired a new position in shares of Philip Morris International during the fourth quarter worth approximately $229,000. Finally, Hanlon Investment Management Inc. acquired a new position in shares of Philip Morris International during the fourth quarter worth approximately $2,872,000. Institutional investors own 72.45% of the company’s stock.

Shares of Philip Morris International Inc (PM) opened at 115.86 on Tuesday. The stock’s 50 day moving average is $118.90 and its 200-day moving average is $112.12. Philip Morris International Inc has a 52 week low of $86.78 and a 52 week high of $123.55. The company has a market cap of $179.95 billion, a price-to-earnings ratio of 25.67 and a beta of 0.93.

Philip Morris International (NYSE:PM) last announced its earnings results on Thursday, July 20th. The company reported $1.14 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.09. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The firm had revenue of $6.92 billion during the quarter, compared to analysts’ expectations of $7.11 billion. During the same period in the prior year, the company posted $1.15 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Philip Morris International Inc will post $4.83 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Friday, June 23rd were paid a $1.04 dividend. This represents a $4.16 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Wednesday, June 21st. Philip Morris International’s dividend payout ratio is currently 92.24%.

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PM has been the topic of a number of analyst reports. Jefferies Group LLC set a $111.00 target price on shares of Philip Morris International and gave the stock a “hold” rating in a research report on Wednesday, April 19th. Cowen and Company reiterated an “outperform” rating and issued a $120.00 target price on shares of Philip Morris International in a research report on Wednesday, April 19th. Vetr upgraded shares of Philip Morris International from a “sell” rating to a “hold” rating and set a $108.70 target price on the stock in a research report on Thursday, April 20th. Stifel Nicolaus reiterated a “buy” rating and issued a $118.00 target price on shares of Philip Morris International in a research report on Sunday, April 23rd. Finally, Zacks Investment Research cut shares of Philip Morris International from a “buy” rating to a “hold” rating in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $122.00.

About Philip Morris International

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

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Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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