Philip Morris International Inc. (NYSE:PM – Get 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.
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
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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