Philip Morris International Inc. (NYSE:PM – Get Free Report) declared a quarterly dividend on Thursday, September 12th, RTT News reports. Investors of record on Thursday, September 26th will be given a dividend of 1.35 per share on Thursday, October 10th. This represents a $5.40 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Thursday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.30.
Philip Morris International has increased its dividend payment by an average of 2.7% per year over the last three years and has raised its dividend every year for the last 16 years. Philip Morris International has a dividend payout ratio of 73.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Philip Morris International to earn $7.09 per share next year, which means the company should continue to be able to cover its $5.20 annual dividend with an expected future payout ratio of 73.3%.
Philip Morris International Trading Up 0.8 %
Shares of PM opened at $125.63 on Friday. The firm has a market cap of $195.30 billion, a PE ratio of 24.54, a P/E/G ratio of 2.45 and a beta of 0.55. Philip Morris International has a 12 month low of $87.23 and a 12 month high of $128.22. The stock has a fifty day moving average price of $116.31 and a 200-day moving average price of $103.45.
Insider Activity at Philip Morris International
In other news, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at approximately $9,877,305.15. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total value of $2,260,200.00. Following the transaction, the insider now owns 158,447 shares in the company, valued at approximately $17,906,095.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Massimo Andolina sold 9,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total transaction of $1,038,150.00. Following the completion of the sale, the insider now directly owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research analysts have issued reports on PM shares. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Stifel Nicolaus upped their target price on Philip Morris International from $120.00 to $138.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Barclays lifted their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, September 9th. UBS Group increased their target price on shares of Philip Morris International from $95.00 to $105.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. lifted their price target on Philip Morris International from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Philip Morris International has an average rating of “Moderate Buy” and an average price target of $117.05.
Read Our Latest Analysis on Philip Morris International
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 primarily under the IQOS and ZYN brands; and consumer accessories, such as lighters and matches.
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