Philip Morris International Inc. Announces Quarterly Dividend of $1.27 (NYSE:PM)

Philip Morris International Inc. (NYSE:PM – Get Rating) announced a quarterly dividend on Thursday, December 8th, RTT News reports. Investors of record on Thursday, December 22nd will be given a dividend of 1.27 per share on Wednesday, January 11th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date is Wednesday, December 21st.

Philip Morris International has increased its dividend payment by an average of 3.0% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Philip Morris International has a dividend payout ratio of 89.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Philip Morris International to earn $5.71 per share next year, which means the company should continue to be able to cover its $5.08 annual dividend with an expected future payout ratio of 89.0%.

Philip Morris International Stock Up 0.2 %

Shares of NYSE PM opened at $102.06 on Friday. The firm has a market capitalization of $158.21 billion, a P/E ratio of 18.19, a P/E/G ratio of 3.51 and a beta of 0.70. The stock’s 50-day simple moving average is $92.09 and its two-hundred day simple moving average is $95.85. Philip Morris International has a twelve month low of $82.85 and a twelve month high of $112.48.

Philip Morris International (NYSE:PM – Get Rating) last announced its earnings results on Thursday, October 20th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.15. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.30 billion. Philip Morris International had a negative return on equity of 118.75% and a net margin of 10.73%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 EPS. As a group, research analysts anticipate that Philip Morris International will post 5.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PM shares. Morgan Stanley upped their target price on Philip Morris International from $102.00 to $109.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 2nd. Credit Suisse Group cut their price objective on Philip Morris International to $95.00 in a report on Thursday, October 27th. StockNews.com cut Philip Morris International from a “buy” rating to a “hold” rating in a report on Thursday, November 24th. Argus upgraded Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a report on Tuesday, November 15th. Finally, Stifel Nicolaus cut their price objective on Philip Morris International from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 14th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $107.50.

Institutional Investors Weigh In On Philip Morris International

Institutional investors have recently bought and sold shares of the stock. Covestor Ltd lifted its holdings in Philip Morris International by 54.9% in the 1st quarter. Covestor Ltd now owns 525 shares of the company’s stock worth $49,000 after buying an additional 186 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new stake in Philip Morris International in the 1st quarter worth approximately $260,000. SS&H Financial Advisors Inc. purchased a new stake in Philip Morris International in the 1st quarter worth approximately $285,000. Loomis Sayles & Co. L P raised its position in shares of Philip Morris International by 24.7% in the 1st quarter. Loomis Sayles & Co. L P now owns 3,065 shares of the company’s stock worth $288,000 after acquiring an additional 608 shares in the last quarter. Finally, Fort Point Capital Partners LLC raised its position in shares of Philip Morris International by 21.0% in the 1st quarter. Fort Point Capital Partners LLC now owns 3,140 shares of the company’s stock worth $295,000 after acquiring an additional 545 shares in the last quarter. 76.00% of the stock is currently owned by hedge funds and other institutional investors.

Philip Morris International Company Profile

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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 that are sold in markets outside the United States.