Tokio Marine Asset Management Co. Ltd. Has $24.58 Million Holdings in Philip Morris International Inc. (NYSE:PM)

Key Points

• Tokio Marine Asset Management Co. Ltd. increased its stake in Philip Morris International by 1.8% during Q1, now holding 154,844 shares worth approximately $24.58 million.
• Philip Morris International's quarterly earnings report revealed an EPS of $1.91, exceeding estimates, but total revenue of $10.14 billion fell short of projections.
• The company has announced a quarterly dividend of $1.35, representing an annualized dividend yield of 3.2%, with a payout ratio currently at 102.66%.

Tokio Marine Asset Management Co. Ltd. grew its position in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,844 shares of the company's stock after acquiring an additional 2,787 shares during the quarter. Philip Morris International comprises about 0.9% of Tokio Marine Asset Management Co. Ltd.'s investment portfolio, making the stock its 22nd largest holding. Tokio Marine Asset Management Co. Ltd.'s holdings in Philip Morris International were worth $24,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Linscomb Wealth Inc. lifted its holdings in Philip Morris International by 3.3% in the first quarter. Linscomb Wealth Inc. now owns 83,205 shares of the company's stock worth $13,207,000 after purchasing an additional 2,669 shares during the period. Mackenzie Financial Corp lifted its holdings in Philip Morris International by 7.3% in the first quarter. Mackenzie Financial Corp now owns 3,583,903 shares of the company's stock worth $568,873,000 after purchasing an additional 242,799 shares during the period. 49 Wealth Management LLC lifted its holdings in Philip Morris International by 79.0% in the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after purchasing an additional 2,354 shares during the period. Cortland Associates Inc. MO lifted its holdings in Philip Morris International by 704.0% in the first quarter. Cortland Associates Inc. MO now owns 142,950 shares of the company's stock worth $22,690,000 after purchasing an additional 125,171 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Philip Morris International by 24.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after purchasing an additional 87,631 shares during the period. Institutional investors and hedge funds own 78.63% of the company's stock.

Philip Morris International Stock Down 0.4%

Philip Morris International stock traded down $0.66 during midday trading on Thursday, hitting $165.22. The company's stock had a trading volume of 3,294,940 shares, compared to its average volume of 7,054,380. The stock's 50-day moving average price is $175.15 and its 200-day moving average price is $164.30. The company has a market capitalization of $257.18 billion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 2.41 and a beta of 0.48. Philip Morris International Inc. has a 12 month low of $116.12 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.05. The firm had revenue of $10.14 billion for the quarter, compared to the consensus estimate of $10.33 billion. Philip Morris International had a negative return on equity of 120.86% and a net margin of 9.03%. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.59 EPS. As a group, equities analysts anticipate that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, June 27th. Philip Morris International's payout ratio is presently 102.66%.

Wall Street Analysts Forecast Growth

PM has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Philip Morris International in a report on Wednesday, July 9th. They issued a "buy" rating and a $220.00 price objective for the company. KGI Securities initiated coverage on shares of Philip Morris International in a report on Monday, August 4th. They issued an "outperform" rating for the company. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price objective on shares of Philip Morris International in a report on Wednesday, July 23rd. Finally, UBS Group boosted their price target on shares of Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, Philip Morris International presently has a consensus rating of "Moderate Buy" and an average price target of $186.27.

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.