10,565 Philip Morris International Inc. $PM Shares Sold by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp trimmed its holdings in Philip Morris International Inc. (NYSE:PM) by 14.8% in the 3rd quarter, Holdings Channel reports. The fund 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 SEC filing.

Several other hedge funds have also bought and sold shares of PM. GQG Partners LLC bought a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $8,220,008,000. Bank of America Corp DE purchased a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $3,075,267,000. Legal & General Group Plc purchased a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $1,316,151,000. Jupiter Topco LLC purchased a new stake in shares of Philip Morris International in the 2nd quarter worth approximately $726,464,000. Finally, Bank of New York Mellon Corp increased its position in Philip Morris International by 30.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 11,669,878 shares of the company’s stock valued at $2,111,198,000 after buying an additional 2,755,662 shares in the last quarter. Institutional investors own 78.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PM. Barclays lifted their price objective on Philip Morris International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Wednesday, July 29th. UBS Group increased their target price on Philip Morris International from $193.00 to $201.00 and gave the stock a “neutral” rating in a research note on Thursday, October 22nd. Stifel Nicolaus increased their target price on Philip Morris International from $205.00 to $232.00 and gave the stock a “buy” rating in a research note on Tuesday, November 3rd. Citigroup increased their price target on shares of Philip Morris International from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, BTIG Research set a $221.00 price target on shares of Philip Morris International and gave the company a “buy” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $213.90.

Philip Morris International Stock Performance

Shares of NYSE:PM opened at $196.29 on Thursday. Philip Morris International Inc. has a fifty-two week low of $146.35 and a fifty-two week high of $214.35. The business has a 50-day simple moving average of $195.91 and a two-hundred day simple moving average of $183.17. The firm has a market cap of $305.95 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.61 and a beta of 0.34.

Philip Morris International (NYSE:PM) last posted its earnings results on Wednesday, October 21st. The company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.06. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $11.32 billion. Philip Morris International had a net margin of 10.73% and a negative return on equity of 183.96%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.24 EPS. As a group, research analysts predict that Philip Morris International Inc. will post 8.32 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 26th. Stockholders of record on Friday, October 2nd were issued a dividend of $1.60 per share. 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. This represents a $6.40 annualized dividend and a dividend yield of 3.3%. Philip Morris International’s dividend payout ratio is presently 93.43%.

Philip Morris International Company 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.