Philip Morris International Inc. $PM Stock Position Lessened by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp trimmed its position in Philip Morris International Inc. (NYSE:PM) by 14.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,839 shares of the company’s stock after selling 10,565 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Philip Morris International were worth $11,609,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Philip Morris International by 0.4% in the 2nd quarter. BlackRock Inc. now owns 108,039,522 shares of the company’s stock worth $19,545,430,000 after acquiring an additional 444,449 shares during the last quarter. State Street Corp increased its position in shares of Philip Morris International by 1.0% in the second quarter. State Street Corp now owns 55,569,994 shares of the company’s stock valued at $10,134,454,000 after acquiring an additional 536,968 shares during the period. GQG Partners LLC bought a new position in shares of Philip Morris International during the second quarter valued at about $8,220,008,000. Wellington Management Group LLP raised its stake in shares of Philip Morris International by 3.9% during the second quarter. Wellington Management Group LLP now owns 17,506,171 shares of the company’s stock valued at $3,167,041,000 after acquiring an additional 650,587 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Philip Morris International by 12.0% during the first quarter. Bank of America Corp DE now owns 17,230,669 shares of the company’s stock valued at $2,848,919,000 after acquiring an additional 1,847,421 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Stock Up 1.0%

NYSE:PM opened at $196.29 on Thursday. The stock has a market cap of $305.95 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 2.61 and a beta of 0.34. The firm’s fifty day simple moving average is $195.91 and its 200 day simple moving average is $183.17. Philip Morris International Inc. has a twelve month low of $146.35 and a twelve month high of $214.35.

Philip Morris International (NYSE:PM) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.30 by $0.06. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business had revenue of $11.44 billion during the quarter, compared to analyst estimates of $11.32 billion. During the same period in the prior year, the business earned $2.24 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts expect that Philip Morris International Inc. will post 8.32 EPS for the current fiscal year.

Philip Morris International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Shareholders of record on Friday, October 2nd were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, October 2nd. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.47. Philip Morris International’s payout ratio is presently 93.43%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Argus raised their target price on Philip Morris International from $210.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Stifel Nicolaus boosted their price target on Philip Morris International from $205.00 to $232.00 and gave the company a “buy” rating in a report on Tuesday, November 3rd. UBS Group upped their price target on Philip Morris International from $193.00 to $201.00 and gave the company a “neutral” rating in a research report on Thursday, October 22nd. Morgan Stanley upped their price target on Philip Morris International from $200.00 to $215.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. began coverage on Philip Morris International in a report on Tuesday. They issued a “neutral” rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Philip Morris International currently has an average rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Profile

Philip Morris International is a global tobacco and nicotine company that develops, manufactures and sells cigarettes and smoke-free products. Its cigarette brands include Marlboro in markets outside the United States, along with other regional and international brands. The company’s smoke-free portfolio includes IQOS heated tobacco products, ZYN nicotine pouches and VEEV e-vapor products. Philip Morris International sells its products in markets around the world, with availability varying by country and subject to local regulations.