Cortland Associates Inc. MO Purchases 144 Shares of Philip Morris International Inc. (NYSE:PM)

Cortland Associates Inc. MO increased its position in Philip Morris International Inc. (NYSE:PM) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,779 shares of the company’s stock after buying an additional 144 shares during the quarter. 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 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Valley Wealth Managers Inc. lifted its position in Philip Morris International by 457.5% in the third quarter. Valley Wealth Managers Inc. now owns 223 shares of the company’s stock valued at $27,000 after purchasing an additional 183 shares during the last quarter. Dunhill Financial LLC lifted its position in Philip Morris International by 203.8% in 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 position in Philip Morris International by 2,709.1% in 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 position in Philip Morris International by 55.5% in 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 bought a new stake in Philip Morris International in the third quarter valued at approximately $54,000. Institutional investors own 78.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and set a $145.00 target price (up from $138.00) on shares of Philip Morris International in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on Philip Morris International from $125.00 to $145.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Barclays reduced their target price on 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. Morgan Stanley assumed coverage on Philip Morris International in a research note on Thursday, January 16th. They set an “overweight” rating and a $140.00 target price on the stock. Finally, Citigroup boosted their target price on Philip Morris International from $118.50 to $132.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Philip Morris International has an average rating of “Moderate Buy” and a consensus price target of $131.35.

Philip Morris International Stock Up 0.5 %

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

Philip Morris International Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Thursday, December 26th. Philip Morris International’s dividend payout ratio (DPR) is 85.71%.

About Philip Morris International

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.