Cortland Associates Inc. MO Increases Stock Position in Philip Morris International Inc. (NYSE:PM)

Cortland Associates Inc. MO raised its stake in shares of Philip Morris International Inc. (NYSE:PM) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,779 shares of the company’s stock after purchasing an additional 144 shares during the period. Philip Morris International accounts for 0.2% of Cortland Associates Inc. MO’s portfolio, making the stock its 29th largest position. Cortland Associates Inc. MO’s holdings in Philip Morris International were worth $2,140,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Valley Wealth Managers Inc. lifted its position in shares of Philip Morris International by 457.5% in the 3rd quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock worth $27,000 after buying an additional 183 shares during the last quarter. Dunhill Financial LLC lifted its stake in Philip Morris International by 203.8% during the third quarter. Dunhill Financial LLC now owns 240 shares of the company’s stock valued at $29,000 after purchasing an additional 161 shares during the last quarter. Concord Wealth Partners lifted its stake in Philip Morris International by 2,709.1% during the third quarter. Concord Wealth Partners now owns 309 shares of the company’s stock valued at $38,000 after purchasing an additional 298 shares during the last quarter. Asset Dedication LLC lifted its stake in Philip Morris International by 55.5% during the fourth quarter. Asset Dedication LLC now owns 412 shares of the company’s stock valued at $50,000 after purchasing an additional 147 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new stake in Philip Morris International during the third quarter valued at approximately $54,000. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

PM has been the topic of several research reports. UBS Group upped their price objective on shares of Philip Morris International from $103.00 to $105.00 and gave the company a “sell” rating in a research note on Wednesday, October 23rd. Barclays lowered their target price on shares of Philip Morris International from $155.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. increased their price target on shares of Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Stifel Nicolaus reissued a “buy” rating and issued a $145.00 price target (up from $138.00) on shares of Philip Morris International in a report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of Philip Morris International from $118.50 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Philip Morris International has a consensus rating of “Moderate Buy” and a consensus target price of $131.35.

Philip Morris International Trading Up 0.5 %

PM stock opened at $129.62 on Thursday. The stock has a market capitalization of $201.53 billion, a P/E ratio of 20.57, a price-to-earnings-growth ratio of 2.01 and a beta of 0.54. Philip Morris International Inc. has a 12 month low of $87.82 and a 12 month high of $134.15. The firm has a 50-day moving average price of $125.26 and a 200-day moving average price of $122.59.

Philip Morris International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Thursday, December 26th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio is currently 85.71%.

Philip Morris International Company Profile

Philip Morris International Inc operates as a tobacco company working to delivers a smoke-free future and evolving portfolio for the long-term to include products outside of the tobacco and nicotine sector. The company's product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, vapor, and oral nicotine products primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.