Billionaire investor Philippe Laffont adds Philip Morris International to portfolio for growth potential.

From Yahoo Finance: 2025-05-18 14:09:00

Billionaire investor Philippe Laffont’s Coatue Management added Philip Morris International Inc. (NYSE: PM) to its portfolio, seeing growth potential in the tobacco giant’s smokeless products like Zyn and Iqos.

Laffont purchased over 1.5 million PM shares valued at around $247 million, marking a shift from his tech-heavy holdings. PM offers a 3.17% dividend yield and a 15-year streak of consistent dividend growth.

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Read more at Yahoo Finance: Philippe Laffont’s Coatue Takes Fresh Stake in Philip Morris International Inc. (PM)