First Commonwealth Financial Corp PA Reduces Holdings in Philip Morris International Inc. (NYSE:PM)

First Commonwealth Financial Corp PA decreased its position in shares of Philip Morris International Inc. (NYSE:PM) by 5.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,229 shares of the company’s stock after selling 396 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Philip Morris International were worth $706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PM. Moneta Group Investment Advisors LLC lifted its holdings in shares of Philip Morris International by 100,700.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 15,640,144 shares of the company’s stock worth $1,582,939,000 after purchasing an additional 15,624,628 shares during the period. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Philip Morris International by 98,370.2% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,673,922 shares of the company’s stock valued at $358,648,000 after acquiring an additional 3,670,191 shares during the period. Boston Partners lifted its holdings in Philip Morris International by 1,225.5% in the second quarter. Boston Partners now owns 3,568,402 shares of the company’s stock valued at $348,046,000 after acquiring an additional 3,299,188 shares during the period. Federated Hermes Inc. lifted its holdings in Philip Morris International by 31.7% in the first quarter. Federated Hermes Inc. now owns 9,036,858 shares of the company’s stock valued at $878,834,000 after acquiring an additional 2,174,242 shares during the period. Finally, Perpetual Ltd acquired a new position in Philip Morris International in the first quarter valued at approximately $201,779,000. Institutional investors and hedge funds own 79.70% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PM. Bank of America decreased their price target on Philip Morris International from $118.00 to $111.00 in a report on Friday, September 29th. Morgan Stanley decreased their price target on Philip Morris International from $118.00 to $113.00 and set an “overweight” rating for the company in a report on Monday, October 2nd. UBS Group decreased their price target on Philip Morris International from $116.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, October 5th. Redburn Atlantic started coverage on Philip Morris International in a research report on Thursday. They set a “neutral” rating and a $95.00 target price on the stock. Finally, Barclays decreased their target price on Philip Morris International from $115.00 to $110.00 and set an “overweight” rating on the stock in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Philip Morris International presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.36.

Philip Morris International Price Performance

NYSE PM traded up $0.67 during mid-day trading on Friday, hitting $91.95. The stock had a trading volume of 3,059,740 shares, compared to its average volume of 4,684,867. The firm’s 50 day moving average is $92.20 and its 200 day moving average is $94.29. Philip Morris International Inc. has a twelve month low of $87.23 and a twelve month high of $105.62. The stock has a market capitalization of $142.74 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 2.16 and a beta of 0.77.

Philip Morris International (NYSE:PM) last posted its quarterly earnings data on Thursday, October 19th. The company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.62 by $0.05. Philip Morris International had a negative return on equity of 129.48% and a net margin of 9.62%. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.21 billion. During the same period in the prior year, the company earned $1.53 EPS. The firm’s revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts expect that Philip Morris International Inc. will post 6.16 earnings per share for the current year.

Philip Morris International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Wednesday, September 27th were paid a $1.30 dividend. The ex-dividend date was Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.27. This represents a $5.20 dividend on an annualized basis and a dividend yield of 5.66%. Philip Morris International’s dividend payout ratio (DPR) is 100.97%.

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.