BlackRock Amends Philip Morris Stake, Signals Passive Investment
Ticker: PM · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 1413329
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns PM, but it's a passive stake.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 29, 2024, indicating its ownership of Philip Morris International Inc. common stock as of December 31, 2023. This filing, an amendment number 13, updates BlackRock's passive investment stake in the tobacco giant. This matters to investors because BlackRock is a major institutional investor, and changes in its holdings can signal shifts in confidence or investment strategy, potentially influencing other investors' perceptions of Philip Morris International Inc.'s stock.
Why It Matters
This filing shows BlackRock's continued significant, but passive, ownership in Philip Morris International, reassuring investors of institutional confidence without suggesting active influence.
Risk Assessment
Risk Level: low — This filing is routine for large institutional investors and indicates a passive stake, posing minimal direct risk to the stock.
Analyst Insight
Investors should note BlackRock's continued passive stake in Philip Morris International, which suggests long-term institutional confidence without indicating any immediate strategic changes or activist intentions.
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- Philip Morris International Inc. (company) — the subject company whose securities are being reported
- January 29, 2024 (date) — the filing date of the SC 13G/A amendment
- December 31, 2023 (date) — the date of the event which required the filing
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G, as indicated by 'FORM TYPE: SC 13G/A' and 'Amendment No: 13' in the filing.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., as stated under '(1)Names of reporting persons. BlackRock, Inc.' in the filing.
What is the subject company whose securities are being reported?
The subject company is Philip Morris International Inc., as clearly stated under 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Philip Morris International Inc.' and '(Name of Issuer) Philip Morris International Inc.'.
What is the CUSIP number for the securities mentioned in this filing?
The CUSIP number for the Common Stock of Philip Morris International Inc. is 718172109, as listed under '(CUSIP Number) 718172109'.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified under '(Date of Event Which Requires Filing of this Statement) December 31, 2023'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding Philip Morris International Inc. (PM).