UNIVEST FINANCIAL Corp Grows Position in Philip Morris International Inc. (NYSE:PM)

Key Points

• UNIVEST FINANCIAL Corp has significantly increased its position in Philip Morris International Inc. by 1,481.1%, now holding 69,206 shares valued at approximately $10.99 million.
• Philip Morris reported $1.91 EPS for its latest quarter, surpassing analysts' expectations of $1.86, with revenue of $10.14 billion marking a 7.1% year-over-year increase.
• The company declared a quarterly dividend of $1.35, translating to an annualized yield of 3.3%, with a payout ratio of 102.66%.

UNIVEST FINANCIAL Corp raised its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 1,481.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,206 shares of the company's stock after acquiring an additional 64,829 shares during the period. UNIVEST FINANCIAL Corp's holdings in Philip Morris International were worth $10,985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PM. Mackenzie Financial Corp boosted its holdings in shares of Philip Morris International by 7.3% in the 1st 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 in the last quarter. 49 Wealth Management LLC increased its holdings in shares of 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 buying an additional 2,354 shares during the period. Cortland Associates Inc. MO increased its holdings in shares of 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 buying an additional 125,171 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 buying an additional 87,631 shares during the period. Finally, SpringVest Wealth Management LLC purchased a new position in shares of Philip Morris International in the first quarter worth about $253,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PM. Bank of America lifted their price objective on Philip Morris International from $182.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC reiterated a "buy" rating and set a $195.00 price target on shares of Philip Morris International in a research report on Wednesday, July 23rd. UBS Group upped their price objective on shares of Philip Morris International from $170.00 to $181.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Citigroup reissued an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $186.27.

Philip Morris International Price Performance

Shares of PM traded up $0.88 during mid-day trading on Tuesday, reaching $163.87. 2,458,219 shares of the company's stock were exchanged, compared to its average volume of 6,149,103. The stock has a market capitalization of $255.08 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.37 and a beta of 0.48. The business's fifty day simple moving average is $177.24 and its 200-day simple moving average is $162.48. Philip Morris International Inc. has a 52-week low of $113.20 and a 52-week high of $186.69.

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

Philip Morris International Dividend Announcement

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

Philip Morris International Company Profile

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.