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

Philip Morris International Inc. (NYSE:PM) declared a quarterly dividend on Thursday, March 6th, RTT News reports. Investors of record on Thursday, March 20th will be given a dividend of 1.35 per share on Thursday, April 10th. This represents a $5.40 annualized dividend and a yield of 3.54%.

Philip Morris International has raised its dividend payment by an average of 2.7% annually over the last three years and has increased its dividend annually for the last 17 consecutive years. Philip Morris International has a payout ratio of 69.5% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Philip Morris International stock traded down $0.40 during trading hours on Thursday, reaching $152.74. 1,855,184 shares of the company’s stock traded hands, compared to its average volume of 5,887,191. The firm has a market capitalization of $237.48 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 2.65 and a beta of 0.53. Philip Morris International has a fifty-two week low of $87.82 and a fifty-two week high of $159.51. The firm’s 50 day moving average is $134.82 and its 200-day moving average is $128.60.

Philip Morris International (NYSE:PM) last issued its earnings results on Thursday, February 6th. The company reported $1.55 EPS for the quarter, beating the consensus estimate of $1.49 by $0.06. Philip Morris International had a net margin of 7.89% and a negative return on equity of 120.08%. Analysts predict that Philip Morris International will post 7.14 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on PM. Stifel Nicolaus upped their price target on Philip Morris International from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. increased their target price on shares of Philip Morris International from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Morgan Stanley began coverage on shares of Philip Morris International in a report on Thursday, January 16th. They issued an “overweight” rating and a $140.00 price target for the company. UBS Group raised their price objective on Philip Morris International from $105.00 to $120.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Finally, Barclays boosted their target price on Philip Morris International from $145.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $144.56.

Insider Activity

In related news, SVP Yann Guerin sold 2,500 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $151.28, for a total value of $378,200.00. Following the completion of the transaction, the senior vice president now owns 30,308 shares of the company’s stock, valued at approximately $4,584,994.24. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Andre Calantzopoulos sold 40,643 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $149.06, for a total transaction of $6,058,245.58. Following the sale, the chairman now directly owns 561,349 shares in the company, valued at $83,674,681.94. This trade represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,143 shares of company stock worth $19,092,846 over the last three months. Corporate insiders own 0.13% of the company’s stock.

Institutional Trading of Philip Morris International

A hedge fund recently raised its stake in Philip Morris International stock. Brighton Jones LLC raised its stake in Philip Morris International Inc. (NYSE:PM) by 31.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 at the end of the most recent reporting period. 78.63% of the stock is currently owned by hedge funds and other institutional investors.

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.