Cortland Associates Inc. MO continued to hold its stake in shares of Philip Morris International Inc (NYSE:PM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,127 shares of the company’s stock at the end of the second quarter. Philip Morris International makes up 0.7% of Cortland Associates Inc. MO’s investment portfolio, making the stock its 17th largest position. Cortland Associates Inc. MO’s holdings in Philip Morris International were worth $3,656,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its holdings in shares of Philip Morris International by 1.8% during the first quarter. State Street Corp now owns 59,926,871 shares of the company’s stock worth $6,766,079,000 after purchasing an additional 1,058,408 shares during the period. Legal & General Group Plc boosted its holdings in shares of Philip Morris International by 3.9% during the first quarter. Legal & General Group Plc now owns 7,211,588 shares of the company’s stock worth $814,358,000 after purchasing an additional 268,119 shares during the period. Swiss National Bank boosted its holdings in shares of Philip Morris International by 26.2% during the first quarter. Swiss National Bank now owns 5,726,731 shares of the company’s stock worth $646,548,000 after purchasing an additional 1,189,800 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of Philip Morris International by 4.9% during the first quarter. UBS Asset Management Americas Inc. now owns 5,354,506 shares of the company’s stock worth $604,524,000 after purchasing an additional 251,734 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Philip Morris International by 4.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 5,064,097 shares of the company’s stock worth $571,737,000 after purchasing an additional 218,999 shares during the period. Institutional investors own 72.01% of the company’s stock.

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In other news, insider Drago Azinovic sold 14,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $116.00, for a total value of $1,624,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Several analysts recently commented on the stock. Jefferies Group LLC restated a “hold” rating and set a $121.00 price target on shares of Philip Morris International in a report on Tuesday, June 20th. Vetr cut shares of Philip Morris International from a “hold” rating to a “sell” rating and set a $117.88 price target for the company. in a report on Monday, June 19th. BidaskClub upgraded shares of Philip Morris International from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 21st. Wells Fargo & Company restated an “outperform” rating on shares of Philip Morris International in a report on Friday, June 9th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $134.00 price target on shares of Philip Morris International in a report on Thursday, June 1st. Seven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $122.79.

Philip Morris International Inc (PM) opened at 112.92 on Friday. The stock has a 50 day moving average of $116.11 and a 200-day moving average of $115.73. Philip Morris International Inc has a 52-week low of $86.78 and a 52-week high of $123.55. The company has a market cap of $175.39 billion, a price-to-earnings ratio of 25.02 and a beta of 0.94.

Philip Morris International (NYSE:PM) last released its quarterly earnings data on Thursday, July 20th. The company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.23 by ($0.09). The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $7.11 billion. Philip Morris International had a net margin of 9.36% and a negative return on equity of 66.18%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.15 EPS. On average, analysts forecast that Philip Morris International Inc will post $4.83 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Wednesday, September 27th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.77%. The ex-dividend date is Tuesday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.04. Philip Morris International’s dividend payout ratio is presently 92.24%.

About Philip Morris International

Philip Morris International Inc is a holding company. The Company is engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. Its segments include European Union (EU); Eastern Europe, Middle East & Africa (EEMA); Asia, and Latin America & Canada.

Institutional Ownership by Quarter for Philip Morris International (NYSE:PM)

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