First Eagle Investment Management LLC Reduces Stock Holdings in Philip Morris International Inc. $PM

Key Points

• First Eagle Investment Management trimmed its Philip Morris International stake by 5.1% in the fourth quarter, selling 313,225 shares and ending with 5.81 million shares valued at about $931.6 million.
• Several company insiders also sold stock: CEO Jacek Olczak sold 80,000 shares and CFO Emmanuel Babeau sold 33,800 shares, both in February transactions.
• Philip Morris beat quarterly earnings and revenue estimates, and analysts remain mostly positive with a Moderate Buy consensus and an average target price of $192.56; the company also pays a $1.47 quarterly dividend, yielding about 3.2%.

First Eagle Investment Management LLC reduced its stake in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,808,120 shares of the company's stock after selling 313,225 shares during the period. Philip Morris International accounts for 1.6% of First Eagle Investment Management LLC's portfolio, making the stock its 26th biggest holding. First Eagle Investment Management LLC owned 0.37% of Philip Morris International worth $931,623,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PM. Marquette Asset Management LLC lifted its position in shares of Philip Morris International by 1,677.8% during the 3rd quarter. Marquette Asset Management LLC now owns 160 shares of the company's stock valued at $26,000 after buying an additional 151 shares in the last quarter. Dogwood Wealth Management LLC lifted its position in shares of Philip Morris International by 96.5% during the 3rd quarter. Dogwood Wealth Management LLC now owns 167 shares of the company's stock valued at $27,000 after buying an additional 82 shares in the last quarter. Richards Merrill & Peterson Inc. purchased a new position in shares of Philip Morris International during the 4th quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Philip Morris International during the 3rd quarter valued at about $32,000. Finally, FNY Investment Advisers LLC purchased a new position in shares of Philip Morris International during the 3rd quarter valued at about $33,000. 78.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Philip Morris International

In related news, CEO Jacek Olczak sold 80,000 shares of the company's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $182.18, for a total transaction of $14,574,400.00. Following the completion of the sale, the chief executive officer directly owned 632,344 shares in the company, valued at $115,200,429.92. This represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Emmanuel Babeau sold 33,800 shares of the company's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $181.61, for a total value of $6,138,418.00. Following the sale, the chief financial officer owned 164,463 shares of the company's stock, valued at $29,868,125.43. This trade represents a 17.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.13% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PM has been the topic of several recent analyst reports. Needham & Company LLC reissued a "buy" rating and set a $200.00 target price on shares of Philip Morris International in a research note on Thursday, April 23rd. Stifel Nicolaus decreased their target price on Philip Morris International from $200.00 to $195.00 and set a "buy" rating on the stock in a research note on Friday, April 10th. Jefferies Financial Group downgraded Philip Morris International from a "buy" rating to a "hold" rating and decreased their target price for the company from $220.00 to $180.00 in a research note on Tuesday, January 20th. Weiss Ratings reissued a "buy (b)" rating on shares of Philip Morris International in a research note on Thursday, January 22nd. Finally, Citigroup lifted their target price on Philip Morris International from $200.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, February 10th. Ten research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $192.56.

Philip Morris International Stock Performance

Shares of Philip Morris International stock opened at $181.97 on Tuesday. The stock has a market cap of $283.60 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 1.97 and a beta of 0.37. The stock has a 50 day moving average price of $166.20 and a 200-day moving average price of $164.77. Philip Morris International Inc. has a one year low of $142.11 and a one year high of $191.30.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.13. Philip Morris International had a negative return on equity of 142.02% and a net margin of 11.61%.The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.95 billion. During the same quarter in the previous year, the business earned $1.69 EPS. Philip Morris International's revenue was up 9.1% compared to the same quarter last year. Philip Morris International has set its FY 2026 guidance at 8.360-8.510 EPS and its Q2 2026 guidance at 2.020-2.070 EPS. Sell-side analysts predict that Philip Morris International Inc. will post 8.45 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 13th. Shareholders of record on Thursday, March 19th were issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Thursday, March 19th. Philip Morris International's dividend payout ratio is currently 82.70%.

Philip Morris International Company Profile

Philip Morris International Inc NYSE: PM is a global tobacco company that manufactures and sells cigarettes, other nicotine-containing products and a growing portfolio of smoke-free alternatives for adult smokers. The firm traces its corporate roots to the 19th century Philip Morris enterprise and was established as an independent, publicly traded company following a 2008 separation from what is now Altria. Since the spin-off, the company has focused on serving international markets outside the United States.

PMI's product mix includes traditional combustible cigarettes as well as smoke-free offerings such as heated tobacco systems and other reduced-risk products.

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