Cortland Associates Inc. MO Has $22.69 Million Position in Philip Morris International Inc. (NYSE:PM)

Cortland Associates Inc. MO boosted its holdings in Philip Morris International Inc. (NYSE:PM - Free Report) by 704.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 142,950 shares of the company's stock after buying an additional 125,171 shares during the period. Philip Morris International makes up about 2.7% of Cortland Associates Inc. MO's investment portfolio, making the stock its 14th largest position. Cortland Associates Inc. MO's holdings in Philip Morris International were worth $22,690,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. 49 Wealth Management LLC grew its position in shares of Philip Morris International by 79.0% during the first quarter. 49 Wealth Management LLC now owns 5,334 shares of the company's stock worth $847,000 after buying an additional 2,354 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Philip Morris International by 24.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 439,082 shares of the company's stock worth $69,695,000 after buying an additional 87,631 shares in the last quarter. Brighton Jones LLC grew its position in shares of Philip Morris International by 31.1% during the fourth quarter. Brighton Jones LLC now owns 8,531 shares of the company's stock worth $1,027,000 after buying an additional 2,023 shares in the last quarter. Symmetry Investments LP acquired a new stake in shares of Philip Morris International during the fourth quarter worth approximately $1,966,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Philip Morris International during the first quarter worth approximately $2,223,000. Hedge funds and other institutional investors own 78.63% of the company's stock.

Philip Morris International Trading Up 0.1%

Philip Morris International stock traded up $0.13 during mid-day trading on Tuesday, hitting $180.88. The stock had a trading volume of 4,322,628 shares, compared to its average volume of 5,637,958. The stock has a 50-day simple moving average of $178.20 and a two-hundred day simple moving average of $157.41. The stock has a market capitalization of $281.54 billion, a PE ratio of 37.29, a P/E/G ratio of 2.60 and a beta of 0.51. Philip Morris International Inc. has a 12 month low of $104.84 and a 12 month high of $186.69.

Philip Morris International (NYSE:PM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.08. Philip Morris International had a negative return on equity of 122.40% and a net margin of 8.43%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.10 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The company's quarterly revenue was up 5.8% on a year-over-year basis. Sell-side analysts expect that Philip Morris International Inc. will post 7.14 earnings per share for the current fiscal year.

Philip Morris International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 27th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, June 27th. Philip Morris International's dividend payout ratio is presently 111.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on PM shares. Needham & Company LLC started coverage on shares of Philip Morris International in a research report on Thursday, May 22nd. They issued a "buy" rating on the stock. Barclays boosted their price target on shares of Philip Morris International from $220.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, July 10th. Wall Street Zen downgraded Philip Morris International from a "buy" rating to a "hold" rating in a report on Saturday. Stifel Nicolaus boosted their price objective on Philip Morris International from $168.00 to $186.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Philip Morris International has a consensus rating of "Moderate Buy" and an average price target of $186.73.

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.