Philip Morris International Inc. (PM) To Go Ex-Dividend on September 26th

Philip Morris International Inc. (NYSE:PMGet 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.

Philip Morris International (NYSE:PMGet Free Report) last issued its quarterly earnings results on Tuesday, July 23rd. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.02. Philip Morris International had a negative return on equity of 113.32% and a net margin of 9.41%. The business had revenue of $9.47 billion during the quarter, compared to the consensus estimate of $9.19 billion. During the same quarter last year, the company earned $1.60 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Philip Morris International will post 6.45 EPS for the current year.

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

(Get Free Report)

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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Dividend History for Philip Morris International (NYSE:PM)

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