Philip Morris International Inc. $PM is First Eagle Investment Management LLC’s 10th Largest Position

First Eagle Investment Management LLC decreased its holdings in Philip Morris International Inc. (NYSE:PM) by 20.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,132,119 shares of the company’s stock after selling 1,852,263 shares during the quarter. Philip Morris International comprises approximately 2.6% of First Eagle Investment Management LLC’s portfolio, making the stock its 10th biggest holding. First Eagle Investment Management LLC owned about 0.46% of Philip Morris International worth $1,298,973,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PM. Abound Wealth Management boosted its stake in shares of Philip Morris International by 566.7% during the 2nd quarter. Abound Wealth Management now owns 160 shares of the company’s stock worth $29,000 after acquiring an additional 136 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA acquired a new position in Philip Morris International during the first quarter worth $30,000. Briaud Financial Planning Inc raised its holdings in Philip Morris International by 266.7% during the second quarter. Briaud Financial Planning Inc now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. CBIZ Investment Advisory Services LLC boosted its position in Philip Morris International by 405.0% during the first quarter. CBIZ Investment Advisory Services LLC now owns 202 shares of the company’s stock worth $32,000 after purchasing an additional 162 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd purchased a new stake in Philip Morris International during the first quarter worth $34,000. 78.63% of the stock is currently owned by institutional investors and hedge funds.

Philip Morris International Price Performance

Shares of Philip Morris International stock opened at $149.93 on Friday. The firm has a market cap of $233.39 billion, a price-to-earnings ratio of 27.16, a price-to-earnings-growth ratio of 2.15 and a beta of 0.43. The stock’s 50-day moving average is $158.58 and its 200-day moving average is $168.41. Philip Morris International Inc. has a one year low of $116.12 and a one year high of $186.69.

Philip Morris International (NYSE:PM) last announced its earnings results on Tuesday, March 28th. The company reported $1.59 earnings per share (EPS) for the quarter. Philip Morris International had a negative return on equity of 122.14% and a net margin of 9.33%.The business had revenue of $8.12 billion for the quarter. On average, equities analysts expect that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 20th. Stockholders of record on Friday, October 3rd were paid a dividend of $1.47 per share. The ex-dividend date was Friday, October 3rd. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Philip Morris International’s previous quarterly dividend of $1.35. Philip Morris International’s dividend payout ratio (DPR) is currently 106.52%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PM shares. Citigroup reaffirmed a “buy” rating on shares of Philip Morris International in a research note on Thursday, September 4th. UBS Group dropped their target price on shares of Philip Morris International from $177.00 to $166.00 and set a “neutral” rating for the company in a report on Friday, September 5th. The Goldman Sachs Group restated a “buy” rating on shares of Philip Morris International in a research report on Wednesday, October 22nd. Wall Street Zen raised shares of Philip Morris International from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Needham & Company LLC reissued a “buy” rating and set a $195.00 price objective on shares of Philip Morris International in a research note on Wednesday, July 23rd. Twelve analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $194.00.

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.