Ninety One UK 13F: Cuts PM Stake by $124M

Ninety One UK scaled back its investment in Philip Morris International Inc. (NYSE: PM), trimming its holdings by 651,777 shares during the period. The adjustment was disclosed in a Form 13F filing with the SEC on October 15, 2026. Because 13F reports look backward, these figures reflect holdings as of the close of the quarter and may not match the fund's exact spot today. Even so, the reduction gives a clear look at how the institution managed its exposure to the tobacco and smoke-free product giant.

What Changed in Ninety One UK's Philip Morris International Position

Ninety One UK cut its stake by 9.068797283105061%, bringing its total down to 6,535,251 shares. The remaining block carried an estimated value of $1,247,056,600 at the time of reporting, following the removal of 651,777 shares from its prior total of 7,187,028 shares. While the fund walked back its exposure slightly, it maintained a sizable position in the Stamford-based company.

Other Institutional Activity in Philip Morris International

Other large money managers also adjusted their bets on the tobacco firm. Capital World Investors trimmed its holdings by 293,581 shares, ending with 133,152,391 shares worth about $27.3 billion. Blackrock Inc. grew its holdings by 505,410 shares, ending with 108,039,522 shares worth about $22.2 billion. Vanguard Capital Management LLC grew its holdings by 627,182 shares, ending with 101,785,557 shares worth about $20.9 billion. Capital Research Global Investors grew its holdings by 4,430,202 shares, ending with 84,253,663 shares worth about $17.3 billion. Capital International Investors reduced its stake by 509,331 shares, closing out the period with 72,252,261 shares valued at roughly $14.8 billion.

Philip Morris International Inc. Stock Up 2.2%

Philip Morris shares recently traded around $204.31 as of October 16, 2026. That price puts the stock about 7.0% above its 50-day moving average of $190.94 and roughly 13.7% above its 200-day moving average of $179.62. The shares sit just 2.9% below their 52-week high of $210.45 while holding up well over their 52-week low of $142.11.

Recent Earnings

Philip Morris generated $42,545,000,448 in trailing-twelve-month revenue alongside earnings of $6.96 per share over the same span. The company reported a net profit margin of 25.6% and a return on equity profile backed by steady operational performance. The next earnings report is scheduled for October 21, 2026.

Dividend

Income investors continue to watch the company's payouts closely. Philip Morris pays an annual dividend rate of $6.40 per share, giving it a dividend yield of 3.2% based on recent trading levels. The payout is supported by a dividend payout ratio of 84.5%.

Insider Buying and Selling at Philip Morris International Inc.

Company insiders also made moves prior to the filing. Officer and Director Jacek Olczak sold 80,000 shares on February 19, 2026, at an average price of $182.18 for a total value of $14,574,400. Officer Emmanuel Babeau sold 33,800 shares on the same day at an average price of $181.61, totaling $6,138,418. Officer Reginaldo Dobrowolski sold 6,000 shares on February 20, 2026, valued at $1,100,880. Officer Stacey Kennedy sold 14,350 shares on February 20, 2026, at an average price of $183.13, worth $2,627,916.

Analysts Set New Price Targets

Wall Street firms have kept a generally positive outlook on the stock. On July 23, 2026, Morgan Stanley maintained its Overweight rating while raising its price target to $215.00 from $200.00. On the same day, Stifel maintained a Buy rating and raised its target to $205.00 from $195.00. Barclays maintained an Overweight rating on July 29, 2026, lifting its target to $225.00 from $205.00. Citigroup maintained a Buy rating on July 30, 2026, pushing its target to $225.00 from $210.00. Later, on September 23, 2026, UBS maintained a Neutral rating while raising its target to $193.00 from $182.00. Across 15 analyst opinions, the stock carries a consensus buy recommendation and a mean price target of $208.80.

About Philip Morris International

Philip Morris International operates as a major consumer defensive enterprise focusing on tobacco and smoke-free alternatives. Headquartered in Stamford, Connecticut, the company produces conventional cigarettes alongside reduced-risk products like heat-not-burn devices, e-vapor items, and oral nicotine pouches under well-known names such as IQOS, VEEV, and ZYN. It also offers various consumer accessories and wellness goods to a global customer base.

Bottom Line

Ninety One UK's decision to trim its position reflects routine portfolio management during a period when the stock traded near the upper end of its yearly range. Investors will look toward the upcoming earnings release on October 21, 2026, for fresh updates on smoke-free product adoption and broader financial results. Remember that 13F filings offer a retrospective look and do not guarantee the fund's current stance. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.