Philip Morris International Inc. (PM) Raises Dividend to $1.04 Per Share

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Philip Morris International Inc. (NYSE:PM) declared a quarterly dividend on Wednesday, September 14th. Shareholders of record on Wednesday, September 28th will be paid a dividend of 1.04 per share on Thursday, October 13th. This represents a $4.16 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Monday, September 26th. This is a boost from Philip Morris International’s previous quarterly dividend of $1.02.
Shares of Philip Morris International (NYSE:PM) opened at 98.93 on Wednesday. The company has a 50 day moving average of $99.49 and a 200-day moving average of $99.29. Philip Morris International has a 12-month low of $78.03 and a 12-month high of $104.20. The company has a market capitalization of $153.47 billion, a P/E ratio of 23.67 and a beta of 0.97.
Philip Morris International (NYSE:PM) last announced its quarterly earnings data on Tuesday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by $0.05. Philip Morris International had a net margin of 8.84% and a negative return on equity of 57.28%. The business earned $6.65 billion during the quarter, compared to analyst estimates of $6.77 billion. During the same quarter in the prior year, the company posted $1.21 EPS. On average, equities analysts anticipate that Philip Morris International will post $4.49 EPS for the current fiscal year.

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PM has been the subject of several research reports. Vetr raised shares of Philip Morris International from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a report on Tuesday. Citigroup Inc. initiated coverage on shares of Philip Morris International in a report on Tuesday. They issued a “neutral” rating and a $106.00 price target for the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $105.00 price target (up from $99.00) on shares of Philip Morris International in a report on Friday, July 15th. JPMorgan Chase & Co. raised shares of Philip Morris International from a “neutral” rating to an “overweight” rating and set a $112.00 price target for the company in a report on Friday, June 17th. Finally, Wells Fargo & Co. reaffirmed an “outperform” rating on shares of Philip Morris International in a report on Tuesday, July 19th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $104.73.
Several institutional investors have recently made changes to their positions in the stock. Analytic Investors LLC boosted its position in shares of Philip Morris International by 661.4% in the second quarter. Analytic Investors LLC now owns 1,407,638 shares of the company’s stock worth $143,185,000 after buying an additional 1,222,768 shares in the last quarter. Teachers Advisors Inc. boosted its position in shares of Philip Morris International by 31.1% in the second quarter. Teachers Advisors Inc. now owns 3,820,475 shares of the company’s stock worth $388,619,000 after buying an additional 907,170 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Philip Morris International by 18.9% in the second quarter. APG Asset Management N.V. now owns 4,597,273 shares of the company’s stock worth $467,635,000 after buying an additional 731,022 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in shares of Philip Morris International by 8.1% in the second quarter. TIAA CREF Investment Management LLC now owns 8,583,827 shares of the company’s stock worth $873,147,000 after buying an additional 644,741 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Philip Morris International by 1.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 27,895,822 shares of the company’s stock worth $2,837,563,000 after buying an additional 514,983 shares in the last quarter. Institutional investors own 71.61% of the company’s stock.
About Philip Morris International
Philip Morris International Inc is a holding company engaged in the manufacture and sale of cigarettes, other tobacco products and other nicotine-containing products in markets outside of the United States. The Company’s products are sold in over 180 markets. Its segments include European Union; Eastern Europe, Middle East & Africa; Asia, and Latin America & Canada.

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