Teacher Retirement System of Texas Reduces Holdings in Philip Morris International Inc. $PM

Key Points

• Teacher Retirement System of Texas trimmed its stake in Philip Morris by 3.1% in Q4, selling 17,744 shares and ending the quarter with 547,877 shares valued at about $87.88 million.
• Top insiders sold material positions on Feb 19: CFO Emmanuel Babeau sold 33,800 shares (~$6.14M) and CEO Jacek Olczak sold 80,000 shares (~$14.57M), cutting their holdings by 17.05% and 11.23%, respectively.
• Philip Morris beat Q1 estimates with $1.96 EPS and $10.15B revenue, issued FY 2026 guidance roughly in line with consensus but a Q2 range slightly below street expectations, and pays a quarterly dividend of $1.47 (annualized yield ~3.6%).

Teacher Retirement System of Texas reduced its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 547,877 shares of the company's stock after selling 17,744 shares during the quarter. Teacher Retirement System of Texas' holdings in Philip Morris International were worth $87,879,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC increased its holdings in Philip Morris International by 2.2% during the 4th quarter. Stonebridge Financial Group LLC now owns 2,763 shares of the company's stock valued at $443,000 after acquiring an additional 60 shares in the last quarter. Capital Advisors Wealth Management LLC increased its holdings in Philip Morris International by 1.8% during the 4th quarter. Capital Advisors Wealth Management LLC now owns 3,372 shares of the company's stock valued at $541,000 after acquiring an additional 61 shares in the last quarter. Townsend Asset Management Corp NC ADV increased its holdings in Philip Morris International by 2.4% during the 4th quarter. Townsend Asset Management Corp NC ADV now owns 2,662 shares of the company's stock valued at $427,000 after acquiring an additional 62 shares in the last quarter. Galvin Gaustad & Stein LLC increased its holdings in Philip Morris International by 0.7% during the 4th quarter. Galvin Gaustad & Stein LLC now owns 9,249 shares of the company's stock valued at $1,484,000 after acquiring an additional 63 shares in the last quarter. Finally, Sather Financial Group Inc increased its holdings in Philip Morris International by 1.4% during the 4th quarter. Sather Financial Group Inc now owns 4,693 shares of the company's stock valued at $753,000 after acquiring an additional 63 shares in the last quarter. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Philip Morris International news, CFO Emmanuel Babeau sold 33,800 shares of the company's stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jacek Olczak sold 80,000 shares of the company's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $182.18, for a total value of $14,574,400.00. Following the completion of the transaction, the chief executive officer directly owned 632,344 shares in the company, valued at approximately $115,200,429.92. The trade was a 11.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.13% of the stock is owned by corporate insiders.

Philip Morris International Price Performance

Shares of PM stock opened at $163.95 on Thursday. The firm has a market cap of $255.52 billion, a P/E ratio of 22.55, a PEG ratio of 1.86 and a beta of 0.43. Philip Morris International Inc. has a 1-year low of $142.11 and a 1-year high of $191.30. The firm's 50-day simple moving average is $170.12 and its 200-day simple moving average is $163.81.

Philip Morris International (NYSE:PM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.13. The business had revenue of $10.15 billion for the quarter, compared to analyst estimates of $9.95 billion. Philip Morris International had a net margin of 12.09% and a negative return on equity of 130.95%. The company's revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm 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. Analysts expect that Philip Morris International Inc. will post 8.36 earnings per share for the current fiscal year.

Philip Morris International Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Thursday, March 19th. Philip Morris International's dividend payout ratio is 80.88%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PM shares. Weiss Ratings restated a "buy (b)" rating on shares of Philip Morris International in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday, January 10th. Morgan Stanley dropped their target price on shares of Philip Morris International from $205.00 to $190.00 and set an "overweight" rating for the company in a report on Friday, April 17th. Stifel Nicolaus dropped their target price on shares of Philip Morris International from $200.00 to $195.00 and set a "buy" rating for the company in a report on Friday, April 10th. Finally, UBS Group reduced their target price on shares of Philip Morris International from $181.50 to $168.00 and set a "neutral" rating on the stock in a report on Friday, April 17th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $192.56.

Key Stories Impacting Philip Morris International

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

• Positive Sentiment: Q1 beat on both EPS and revenue: Adjusted EPS of $1.96 topped consensus (~$1.83) and revenue was $10.15B versus ~$9.95B; the strong topline helped drive the stock rally. Philip Morris stock jumps 7% as smoke-free growth drives beat
• Positive Sentiment: Smoke‑free (IQOS) momentum highlighted on the earnings call — management pointed to organic growth in smoke‑free products and ongoing share gains internationally, underpinning the long‑term strategy away from combustibles. Philip Morris International Earnings Call Highlights Smoke-Free Momentum
• Neutral Sentiment: Guidance updated: Q2 EPS was guided to $2.020–2.070 (below street ~$2.12) while FY 2026 was set to $8.360–8.510 (roughly in line with consensus). The mix (weaker near‑term quarter, largely intact full‑year range) creates a balanced read for investors. Philip Morris International Inc. 2026 Q1 - Results - Earnings Call Presentation
• Neutral Sentiment: Analyst commentary is mixed: some upgrades cite secular smoke‑free growth but others warn valuation is rich — the stock now reflects strong execution and growth expectations that may already be priced in. Philip Morris: Growth At An Expensive Price (Rating Upgrade)
• Negative Sentiment: Company trimmed its annual profit outlook and flagged pressure from heightened competition and regulatory uncertainty around nicotine pouches (Zyn), a factor that could weigh on margins and growth in the medium term. Philip Morris cuts annual profit forecast

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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