Philip Morris International Inc. (NYSE:PM) Plans Dividend Increase – $1.35 Per Share

Philip Morris International Inc. (NYSE:PM) declared a quarterly dividend on Thursday, September 12th, RTT News reports. Investors of record on Thursday, September 26th will be paid a dividend of 1.35 per share on Thursday, October 10th. This represents a $5.40 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Thursday, September 26th. This is an increase from Philip Morris International’s previous quarterly dividend of $1.30.

Philip Morris International has increased its dividend by an average of 2.7% annually over the last three years and has increased its dividend every year for the last 17 years. Philip Morris International has a dividend payout ratio of 76.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 $5.40 annual dividend with an expected future payout ratio of 76.2%.

Philip Morris International Stock Performance

PM opened at $121.27 on Wednesday. The stock has a market capitalization of $188.55 billion, a price-to-earnings ratio of 23.69, a PEG ratio of 2.37 and a beta of 0.55. The company has a fifty day moving average of $118.79 and a 200 day moving average of $105.17. Philip Morris International has a fifty-two week low of $87.23 and a fifty-two week high of $128.22.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PM shares. UBS Group lifted their price target on Philip Morris International from $95.00 to $105.00 and gave the company a “sell” rating in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their target price on shares of Philip Morris International from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 25th. Barclays lifted their price objective on shares of Philip Morris International from $130.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, September 9th. StockNews.com upgraded shares of Philip Morris International from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Finally, Bank of America raised their target price on shares of Philip Morris International from $125.00 to $139.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.05.

Insider Buying and Selling at Philip Morris International

In related news, insider Wilde Frederic De sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were 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 sale was disclosed in a filing with the SEC, which is available through this link. In other Philip Morris International news, insider Wilde Frederic De sold 20,000 shares of Philip Morris International stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $113.01, for a total transaction of $2,260,200.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Massimo Andolina sold 9,000 shares of Philip Morris International stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $115.35, for a total value of $1,038,150.00. Following the transaction, the insider now owns 85,629 shares of the company’s stock, valued at $9,877,305.15. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Philip Morris International Company Profile

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.