Philip Morris International Inc. Plans Quarterly Dividend of $1.35 (NYSE:PM)

Philip Morris International Inc. (NYSE:PM - Get Free Report) declared a quarterly dividend on Friday, June 13th, RTT News reports. Investors of record on Friday, June 27th will be paid a dividend of 1.35 per share on Tuesday, July 15th. This represents a $5.40 annualized dividend and a yield of 2.93%.

Philip Morris International has a dividend payout ratio of 65.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Philip Morris International to earn $7.90 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 68.4%.

Philip Morris International Trading Down 0.0%

NYSE PM traded down $0.09 on Friday, hitting $184.01. 5,500,599 shares of the company were exchanged, compared to its average volume of 5,616,006. The firm has a 50 day moving average of $169.95 and a two-hundred day moving average of $148.87. The company has a market cap of $286.41 billion, a P/E ratio of 40.80, a P/E/G ratio of 2.65 and a beta of 0.52. Philip Morris International has a 1-year low of $98.93 and a 1-year high of $185.08.

Philip Morris International (NYSE:PM - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.08. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the company earned $1.50 EPS. The firm's quarterly revenue was up 5.8% on a year-over-year basis. Research analysts anticipate that Philip Morris International will post 7.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $182.00 target price (up previously from $156.00) on shares of Philip Morris International in a research note on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. Wall Street Zen lowered shares of Philip Morris International from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Needham & Company LLC initiated coverage on shares of Philip Morris International in a research note on Thursday, May 22nd. They issued a "buy" rating on the stock. Finally, Argus upgraded shares of Philip Morris International from a "hold" rating to a "buy" rating in a research report on Friday, March 14th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $176.80.

Institutional Trading of Philip Morris International

An institutional investor recently raised its position in Philip Morris International stock. Brighton Jones LLC increased its holdings in shares of Philip Morris International Inc. (NYSE:PM - Free Report) by 31.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,531 shares of the company's stock after purchasing an additional 2,023 shares during the quarter. Brighton Jones LLC's holdings in Philip Morris International were worth $1,027,000 as of its most recent filing with the SEC. 78.63% of the stock is owned by institutional investors.

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.