UNIVEST FINANCIAL Corp Has $10.99 Million 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 increased its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 1,481.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 69,206 shares of the company's stock after purchasing an additional 64,829 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in Philip Morris International were worth $10,985,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Philip Morris International by 19,986.5% during the first quarter. GAMMA Investing LLC now owns 4,486,928 shares of the company's stock worth $712,210,000 after buying an additional 4,464,590 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its holdings in shares of Philip Morris International by 372.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 5,453,285 shares of the company's stock worth $656,303,000 after buying an additional 4,298,530 shares during the last quarter. Capital World Investors lifted its holdings in shares of Philip Morris International by 3.6% during the fourth quarter. Capital World Investors now owns 122,584,210 shares of the company's stock worth $14,752,926,000 after buying an additional 4,216,586 shares during the last quarter. Lone Pine Capital LLC lifted its holdings in shares of Philip Morris International by 44.4% during the fourth quarter. Lone Pine Capital LLC now owns 6,468,372 shares of the company's stock worth $778,469,000 after buying an additional 1,987,716 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Philip Morris International by 22.2% during the first quarter. Massachusetts Financial Services Co. MA now owns 9,018,628 shares of the company's stock worth $1,431,527,000 after buying an additional 1,635,636 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Stock Performance

Shares of NYSE PM opened at $164.04 on Friday. The business has a fifty day moving average of $177.85 and a two-hundred day moving average of $161.30. Philip Morris International Inc. has a 52-week low of $113.15 and a 52-week high of $186.69. The stock has a market cap of $255.35 billion, a PE ratio of 31.19, a PEG ratio of 2.36 and a beta of 0.51.

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

Philip Morris International Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PM. Barclays lowered their price objective on Philip Morris International from $225.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday. Citigroup restated an "overweight" rating on shares of Philip Morris International in a research report on Tuesday, July 22nd. Needham & Company LLC restated a "buy" rating and set a $195.00 price objective on shares of Philip Morris International in a research report on Wednesday, July 23rd. Morgan Stanley restated an "overweight" rating and set a $182.00 price objective (up from $156.00) on shares of Philip Morris International in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Philip Morris International from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $186.27.

Philip Morris International 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.

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