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

Philip Morris International Inc. (NYSE:PMGet Rating) announced a quarterly dividend on Wednesday, September 14th, RTT News reports. Stockholders of record on Wednesday, September 28th will be paid a dividend of 1.27 per share on Wednesday, October 12th. This represents a $5.08 annualized dividend and a dividend yield of 5.42%. The ex-dividend date is Tuesday, September 27th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.25.

Philip Morris International has raised its dividend payment by an average of 3.0% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Philip Morris International has a dividend payout ratio of 84.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Philip Morris International to earn $5.91 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 84.6%.

Philip Morris International Trading Down 0.3 %

Shares of NYSE:PM opened at $93.70 on Thursday. Philip Morris International has a 1-year low of $85.64 and a 1-year high of $112.48. The firm has a market capitalization of $145.25 billion, a PE ratio of 16.10, a PEG ratio of 3.62 and a beta of 0.62. The business’s 50 day moving average is $96.15 and its 200-day moving average is $98.58.

Philip Morris International (NYSE:PMGet Rating) last announced its quarterly earnings data on Thursday, July 21st. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.22. Philip Morris International had a negative return on equity of 115.36% and a net margin of 11.05%. The company had revenue of $7.83 billion for the quarter, compared to analyst estimates of $6.76 billion. During the same quarter last year, the firm earned $1.57 EPS. Philip Morris International’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts predict that Philip Morris International will post 5.99 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the company. StockNews.com raised Philip Morris International from a “hold” rating to a “buy” rating in a research note on Tuesday, July 26th. Jefferies Financial Group decreased their price target on Philip Morris International from $107.00 to $99.00 in a research note on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Philip Morris International presently has an average rating of “Moderate Buy” and a consensus target price of $109.13.

Hedge Funds Weigh In On Philip Morris International

A number of institutional investors and hedge funds have recently bought and sold shares of the business. KCM Investment Advisors LLC boosted its stake in Philip Morris International by 2.1% in the first quarter. KCM Investment Advisors LLC now owns 7,302 shares of the company’s stock worth $686,000 after purchasing an additional 148 shares in the last quarter. Bluesphere Advisors LLC boosted its stake in Philip Morris International by 1.1% in the first quarter. Bluesphere Advisors LLC now owns 14,332 shares of the company’s stock worth $1,346,000 after purchasing an additional 150 shares in the last quarter. Covestor Ltd raised its position in shares of Philip Morris International by 54.9% during the first quarter. Covestor Ltd now owns 525 shares of the company’s stock worth $49,000 after acquiring an additional 186 shares during the last quarter. First Commonwealth Financial Corp PA raised its position in shares of Philip Morris International by 4.6% during the first quarter. First Commonwealth Financial Corp PA now owns 5,844 shares of the company’s stock worth $549,000 after acquiring an additional 258 shares during the last quarter. Finally, Fairfield Bush & CO. raised its position in shares of Philip Morris International by 1.1% during the first quarter. Fairfield Bush & CO. now owns 26,141 shares of the company’s stock worth $2,456,000 after acquiring an additional 281 shares during the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.

About Philip Morris International

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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.

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Dividend History for Philip Morris International (NYSE:PM)

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