Philip Morris International Inc (NYSE:PM) announced a quarterly dividend on Thursday, December 7th, RTT News reports. Stockholders of record on Thursday, December 21st will be given a dividend of 1.07 per share on Thursday, January 11th. This represents a $4.28 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, December 20th.
Philip Morris International has increased its dividend payment by an average of 5.5% per year over the last three years and has raised its dividend every year for the last 9 years. Philip Morris International has a payout ratio of 90.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Philip Morris International to earn $5.35 per share next year, which means the company should continue to be able to cover its $4.28 annual dividend with an expected future payout ratio of 80.0%.
Philip Morris International (PM) traded up $2.14 during trading hours on Thursday, hitting $107.60. The stock had a trading volume of 5,108,800 shares, compared to its average volume of 4,128,816. Philip Morris International has a 1-year low of $87.90 and a 1-year high of $123.55. The company has a debt-to-equity ratio of -2.91, a current ratio of 1.13 and a quick ratio of 0.68. The company has a market cap of $163,800.78, a price-to-earnings ratio of 23.49, a P/E/G ratio of 2.13 and a beta of 0.90.
PM has been the topic of several recent analyst reports. SBG Securities upgraded Philip Morris International from a “sell” rating to a “hold” rating and lifted their target price for the stock from $118.00 to $119.00 in a report on Friday, August 11th. BidaskClub raised Philip Morris International from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Piper Jaffray Companies set a $134.00 price objective on Philip Morris International and gave the stock a “buy” rating in a report on Saturday, August 19th. Cowen reiterated a “buy” rating and issued a $135.00 price target on shares of Philip Morris International in a research note on Tuesday, August 22nd. Finally, Jefferies Group reiterated a “hold” rating and set a $120.00 price target (down from $121.00) on shares of Philip Morris International in a report on Thursday, August 24th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $124.23.
In other Philip Morris International news, Chairman Louis C. Camilleri sold 108,979 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $108.38, for a total value of $11,811,144.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Tanaka Capital Management Inc. increased its position in shares of Philip Morris International by 0.8% during the second quarter. Tanaka Capital Management Inc. now owns 5,590 shares of the company’s stock valued at $657,000 after buying an additional 42 shares during the period. Wilbanks Smith & Thomas Asset Management LLC boosted its stake in Philip Morris International by 0.4% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 14,486 shares of the company’s stock worth $1,701,000 after acquiring an additional 51 shares in the last quarter. M&R Capital Management Inc. boosted its stake in Philip Morris International by 0.6% during the second quarter. M&R Capital Management Inc. now owns 7,985 shares of the company’s stock worth $917,000 after acquiring an additional 51 shares in the last quarter. South State Corp boosted its stake in Philip Morris International by 0.4% during the second quarter. South State Corp now owns 15,076 shares of the company’s stock worth $1,771,000 after acquiring an additional 57 shares in the last quarter. Finally, Clarius Group LLC boosted its stake in Philip Morris International by 2.3% during the second quarter. Clarius Group LLC now owns 2,635 shares of the company’s stock worth $309,000 after acquiring an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 72.63% of the company’s stock.
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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.
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