Geode Capital Management LLC Sells 544,322 Shares of Philip Morris International Inc. $PM

Key Points

• Geode Capital Management cut its Philip Morris International stake by 1.4% in the fourth quarter, selling 544,322 shares and ending with 37.38 million shares valued at about $5.99 billion.
• Philip Morris International beat quarterly expectations, reporting EPS of $1.96 on revenue of $10.15 billion, with sales up 9.1% year over year.
• Analysts remain broadly positive on PM, with a Moderate Buy consensus and an average price target of $192.56, while the company also pays a quarterly dividend yielding about 3.2%.

Geode Capital Management LLC lowered its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,380,531 shares of the company's stock after selling 544,322 shares during the period. Geode Capital Management LLC owned about 2.40% of Philip Morris International worth $5,990,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Philip Morris International by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 145,262,397 shares of the company's stock valued at $23,300,088,000 after purchasing an additional 1,793,949 shares in the last quarter. Capital World Investors grew its position in Philip Morris International by 2.2% in the third quarter. Capital World Investors now owns 128,776,327 shares of the company's stock valued at $20,887,743,000 after purchasing an additional 2,714,674 shares in the last quarter. Capital International Investors grew its position in Philip Morris International by 1.0% in the third quarter. Capital International Investors now owns 89,150,871 shares of the company's stock valued at $14,461,220,000 after purchasing an additional 882,885 shares in the last quarter. Capital Research Global Investors grew its position in Philip Morris International by 7.2% in the third quarter. Capital Research Global Investors now owns 43,546,533 shares of the company's stock valued at $7,063,263,000 after purchasing an additional 2,911,835 shares in the last quarter. Finally, Northern Trust Corp grew its position in Philip Morris International by 2.8% in the third quarter. Northern Trust Corp now owns 14,701,879 shares of the company's stock valued at $2,384,645,000 after purchasing an additional 401,381 shares in the last quarter. Institutional investors own 78.63% of the company's stock.

Philip Morris International Stock Performance

NYSE PM opened at $182.11 on Thursday. The firm has a 50-day moving average of $169.35 and a 200-day moving average of $167.98. The stock has a market cap of $283.82 billion, a PE ratio of 25.61, a P/E/G ratio of 2.09 and a beta of 0.37. Philip Morris International Inc. has a 52-week low of $142.11 and a 52-week high of $193.05.

Philip Morris International (NYSE:PM - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.13. The company had revenue of $10.15 billion during the quarter, compared to analysts' expectations of $9.95 billion. Philip Morris International had a net margin of 11.61% and a negative return on equity of 142.02%. Philip Morris International's quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.69 EPS. 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. As a group, analysts predict that Philip Morris International Inc. will post 8.45 EPS for the current fiscal year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Thursday, March 19th were paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, March 19th. Philip Morris International's dividend payout ratio (DPR) is currently 82.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group decreased their price objective on shares of Philip Morris International from $181.50 to $168.00 and set a "neutral" rating for the company in a research report on Friday, April 17th. Stifel Nicolaus decreased their price objective on shares of Philip Morris International from $200.00 to $195.00 and set a "buy" rating for the company in a research report on Friday, April 10th. Needham & Company LLC reissued a "buy" rating and issued a $200.00 price objective on shares of Philip Morris International in a research report on Thursday, April 23rd. Morgan Stanley decreased their price objective on shares of Philip Morris International from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Friday, April 17th. Finally, Barclays reissued an "overweight" rating and issued a $205.00 price objective on shares of Philip Morris International in a research report on Monday, February 23rd. Ten equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.56.

Philip Morris International 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.

Want to see what other hedge funds are holding PM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Philip Morris International Inc. (NYSE:PM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.