Cahaba Wealth Management Inc. Purchases Shares of 1,276 Philip Morris International Inc. (NYSE:PM)

Cahaba Wealth Management Inc. purchased a new stake in Philip Morris International Inc. (NYSE:PM) during the first quarter, HoldingsChannel.com reports. The fund purchased 1,276 shares of the company’s stock, valued at approximately $203,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pacifica Partners Inc. increased its holdings in Philip Morris International by 115.0% in the 1st quarter. Pacifica Partners Inc. now owns 215 shares of the company’s stock valued at $35,000 after acquiring an additional 115 shares during the last quarter. Redmont Wealth Advisors LLC bought a new stake in Philip Morris International in the 1st quarter valued at $35,000. Ball & Co Wealth Management Inc. bought a new stake in Philip Morris International in the 4th quarter valued at $36,000. Ameriflex Group Inc. bought a new stake in Philip Morris International in the 4th quarter valued at $36,000. Finally, Inlight Wealth Management LLC bought a new stake in Philip Morris International in the 1st quarter valued at $38,000. 78.63% of the stock is currently owned by institutional investors.

Philip Morris International Trading Down 0.7%

PM stock opened at $179.73 on Friday. Philip Morris International Inc. has a 12 month low of $104.84 and a 12 month high of $186.69. The company has a 50-day moving average price of $178.05 and a 200 day moving average price of $156.75. The stock has a market cap of $279.75 billion, a PE ratio of 37.06, a P/E/G ratio of 2.61 and a beta of 0.51.

Philip Morris International (NYSE:PM) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.08. Philip Morris International had a net margin of 8.43% and a negative return on equity of 122.40%. The firm had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same period in the previous year, the company earned $1.50 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts forecast that Philip Morris International Inc. will post 7.14 EPS for the current year.

Philip Morris International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 27th will be paid a $1.35 dividend. The ex-dividend date is Friday, June 27th. This represents a $5.40 dividend on an annualized basis and a yield of 3.00%. Philip Morris International’s dividend payout ratio is currently 111.34%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Philip Morris International from $188.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America boosted their target price on shares of Philip Morris International from $182.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Needham & Company LLC assumed coverage on shares of Philip Morris International in a report on Thursday, May 22nd. They issued a “buy” rating on the stock. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $175.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Philip Morris International from $168.00 to $186.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Philip Morris International currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.73.

Philip Morris International 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.