Philip Morris International Inc. $PM Stock Holdings Reduced by Cortland Associates Inc. MO

Key Points

• Cortland Associates trimmed its stake in Philip Morris by 5.4% in Q4 to 201,894 shares (about $32.38M), making PM roughly 4.1% of the fund’s holdings and its 11th-largest position.
• Large insider sales: CEO Jacek Olczak sold 80,000 shares (~$14.57M; an 11.23% reduction) and CFO Emmanuel Babeau sold 33,800 shares (~$6.14M; a 17.05% reduction) on Feb. 19, leaving insiders with about 0.13% ownership.
• Philip Morris posted quarterly EPS of $1.70 (in line) and revenue of $10.36B (slightly below expectations), set Q1 2026 guidance of $1.80–$1.85 and FY 2026 of $8.38–$8.53 EPS, and pays a $1.47 quarterly dividend (3.8% yield) with analysts’ average rating at "Moderate Buy" and a $192.56 target.

Cortland Associates Inc. MO lowered its stake in Philip Morris International Inc. (NYSE:PM - Free Report) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 201,894 shares of the company's stock after selling 11,636 shares during the period. Philip Morris International makes up approximately 4.1% of Cortland Associates Inc. MO's holdings, making the stock its 11th biggest position. Cortland Associates Inc. MO's holdings in Philip Morris International were worth $32,384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Stonebridge Financial Group LLC lifted its position in shares of Philip Morris International by 2.2% in the fourth quarter. Stonebridge Financial Group LLC now owns 2,763 shares of the company's stock worth $443,000 after buying an additional 60 shares during the last quarter. Capital Advisors Wealth Management LLC lifted its position in shares of Philip Morris International by 1.8% in the fourth quarter. Capital Advisors Wealth Management LLC now owns 3,372 shares of the company's stock worth $541,000 after buying an additional 61 shares during the last quarter. Townsend Asset Management Corp NC ADV lifted its position in shares of Philip Morris International by 2.4% in the fourth quarter. Townsend Asset Management Corp NC ADV now owns 2,662 shares of the company's stock worth $427,000 after buying an additional 62 shares during the last quarter. Galvin Gaustad & Stein LLC lifted its position in shares of Philip Morris International by 0.7% in the fourth quarter. Galvin Gaustad & Stein LLC now owns 9,249 shares of the company's stock worth $1,484,000 after buying an additional 63 shares during the last quarter. Finally, Sather Financial Group Inc lifted its position in shares of Philip Morris International by 1.4% in the fourth quarter. Sather Financial Group Inc now owns 4,693 shares of the company's stock worth $753,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 78.63% of the company's stock.

Insider Activity

In related news, CEO Jacek Olczak sold 80,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 632,344 shares of the company's stock, valued at approximately $115,200,429.92. The trade was a 11.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Emmanuel Babeau sold 33,800 shares of the business's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $181.61, for a total value of $6,138,418.00. Following the transaction, the chief financial officer owned 164,463 shares in the company, valued at $29,868,125.43. This represents a 17.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.13% of the stock is currently owned by insiders.

Philip Morris International Stock Performance

NYSE PM opened at $153.33 on Wednesday. Philip Morris International Inc. has a twelve month low of $142.11 and a twelve month high of $191.30. The stock has a market capitalization of $238.97 billion, a PE ratio of 21.09, a P/E/G ratio of 1.92 and a beta of 0.43. The stock has a 50-day simple moving average of $170.57 and a 200 day simple moving average of $163.81.

Philip Morris International (NYSE:PM - Get Free Report) last posted its quarterly earnings data on Friday, February 6th. The company reported $1.70 earnings per share for the quarter, hitting the consensus estimate of $1.70. Philip Morris International had a negative return on equity of 130.95% and a net margin of 12.09%.The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.40 billion. During the same quarter in the previous year, the firm earned $1.55 EPS. The firm's revenue was up 6.8% compared to the same quarter last year. Philip Morris International has set its Q1 2026 guidance at 1.800-1.850 EPS and its FY 2026 guidance at 8.380-8.530 EPS. As a group, equities research analysts forecast that Philip Morris International Inc. will post 8.36 EPS for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Investors of record on Thursday, March 19th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Thursday, March 19th. Philip Morris International's payout ratio is currently 80.88%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PM shares. Needham & Company LLC reduced their price target on Philip Morris International from $205.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, April 13th. Barclays reaffirmed an "overweight" rating and issued a $205.00 price target on shares of Philip Morris International in a research report on Monday, February 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Philip Morris International in a research report on Thursday, January 22nd. Stifel Nicolaus reduced their price target on 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. Finally, Morgan Stanley cut their price objective on Philip Morris International from $205.00 to $190.00 and set an "overweight" rating for the company in a research report on Friday. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $192.56.

More Philip Morris International News

Here are the key news stories impacting Philip Morris International this week:

• Positive Sentiment: Goldman Sachs turned bullish ahead of the Q1 release, which supports upside expectations into the report and may limit downside if results beat. Goldman Sachs is bullish on Philip Morris ahead of earnings
• Positive Sentiment: The FDA renewed modified-risk authorization for IQOS, preserving an important regulatory and commercial advantage as PMI shifts revenue toward heat-not-burn products. This reduces regulatory execution risk for IQOS rollout. Philip Morris' IQOS Retains FDA Modified-Risk Authorization
• Positive Sentiment: Analysts at Jefferies included PMI on a list of dividend stocks to hold in volatile markets, highlighting the stock’s income profile and defensive qualities for cautious investors. Philip Morris and 15 More Dividend Stocks to Play This Volatile Market
• Neutral Sentiment: Marketing/brand activity: PMI’s IQOS collaboration with Devialet at Milan Design Week boosts brand and product visibility but likely has limited near-term revenue impact. IQOS and Devialet Introduce "Soundsorial Design" Collaboration
• Neutral Sentiment: Broader market context: early S&P 500 earnings have been solid, which is supportive for risk appetite generally but doesn’t change PMI-specific drivers. S&P 500 Companies' Earnings Season Off to Solid Start, Oppenheimer Says
• Negative Sentiment: Multiple earnings previews note that PMI reports Q1 results this week, which typically raises short-term volatility as investors trim positions to avoid earnings risk — a likely driver of today’s pullback. Philip Morris Q1 earnings on deck: What to expect
• Negative Sentiment: Pre-earnings coverage (“Everything You Need To Know Ahead Of Earnings”) reiterates uncertainty around revenue mix, IQOS momentum and currency/price/mix dynamics — factors that could produce a miss or conservative guidance and further pressure the stock. Philip Morris (PM) Reports Q1: Everything You Need To Know Ahead Of Earnings

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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