Philip Morris (PM) jumps 6.4% as Q1 earnings top expectations on strong IQOS-led smoke-free growth

Philip Morris International (PM) is up 6.4% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to a first-quarter earnings beat and upbeat full-year profit outlook, with especially strong momentum in the company’s international smoke-free portfolio led by IQOS. Investors likely focused on accelerating smoke-free revenue/margin mix and management’s reaffirmed adjusted EPS framework for 2026.

Details:

Adjusted diluted EPS rose 16.0% year over year to $1.96, while reported diluted EPS was $1.56 due to a non-cash fair value adjustment on an equity investment.

Net revenues increased 9.1% to about $10.1 billion, with the smoke-free business contributing 43% of total net revenues and growing faster than combustibles.

International smoke-free net revenues rose 24.7%, supported by higher heated tobacco unit volumes and continued IQOS share gains in markets where it is sold.

Full-year 2026 adjusted diluted EPS guidance was maintained at $8.36–$8.51 (updated for currency only), reinforcing expectations for double-digit earnings growth.

Sources:

SEC (company press release/8-K), Associated Press, Investing.com

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PM Hedge Fund Activity

We have seen 1,253 institutional investors add shares of $PM stock to their portfolio, and 1,191 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 15,976,947 shares (-74.7%) from their portfolio in Q4 2025, for an estimated $2,562,702,298
CAPITAL INTERNATIONAL INVESTORS added 12,227,004 shares (+13.7%) to their portfolio in Q4 2025, for an estimated $1,961,211,441
CAPITAL RESEARCH GLOBAL INVESTORS added 11,013,173 shares (+25.3%) to their portfolio in Q4 2025, for an estimated $1,766,512,949
JPMORGAN CHASE & CO removed 5,542,623 shares (-11.7%) from their portfolio in Q4 2025, for an estimated $889,036,729
VIKING GLOBAL INVESTORS LP removed 4,426,128 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $709,950,931
DZ BANK AG DEUTSCHE ZENTRAL GENOSSENSCHAFTS BANK, FRANKFURT AM MAIN removed 4,331,283 shares (-81.5%) from their portfolio in Q4 2025, for an estimated $694,737,793
BANK OF NEW YORK MELLON CORP removed 4,062,385 shares (-30.3%) from their portfolio in Q4 2025, for an estimated $651,606,554

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$PM Congressional Stock Trading

Members of Congress have traded $PM stock 3 times in the past 6 months. Of those trades, 0 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $PM stock by members of Congress over the last 6 months:

REPRESENTATIVE JULIA LETLOW sold up to $15,000 on 02/05.
REPRESENTATIVE JULIE JOHNSON has traded it 2 times. They made 0 purchases and 2 sales worth up to $30,000 on 12/18, 11/13.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$PM Analyst Ratings

Wall Street analysts have issued reports on $PM in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

JP Morgan issued a "Overweight" rating on 11/26/2025
Barclays issued a "Overweight" rating on 11/17/2025

To track analyst ratings and price targets for $PM, check out Quiver Quantitative's $PM forecast page.

$PM Price Targets

Multiple analysts have issued price targets for $PM recently. We have seen 8 analysts offer price targets for $PM in the last 6 months, with a median target of $187.5.

Here are some recent targets:

Eric Serotta from Morgan Stanley set a target price of $190.0 on 04/17/2026
Faham Baig from UBS set a target price of $168.0 on 04/17/2026
Gerald Pascarelli from Needham set a target price of $200.0 on 04/13/2026
Matthew Smith from Stifel set a target price of $195.0 on 04/10/2026
Simon Hales from Citigroup set a target price of $210.0 on 02/10/2026
Edward Mundy from Jefferies set a target price of $180.0 on 01/20/2026
Jared Dinges from JP Morgan set a target price of $185.0 on 11/26/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.