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PM

Philip Morris

$117.05

-0.88 (-0.75%)

09:10
09/13/17
09/13
09:10
09/13/17
09:10

Philip Morris raises quarterly dividend 2.9% to $1.07 per share

The Board of Directors of Philip Morris International increased the company's regular quarterly dividend by 2.9% to an annualized rate of $4.28 per share. The new quarterly dividend of $1.07 per share, up from $1.04 per share, is payable on October 12, to shareholders of record as of September 27. The ex-dividend date is September 26. .

PM Philip Morris
$117.05

-0.88 (-0.75%)

07/28/17
PIPR
07/28/17
NO CHANGE
Target $134
PIPR
Overweight
Philip Morris selloff a buying opportunity, says Piper Jaffray
Piper Jaffray analyst Michael Lavery views the selloff in shares of Philip Morris on the FDA's comments as a buying opportunity. Philip Morris, with no cigarette sales "whatsoever" in the U.S., is trading off in sympathy with the group, though today's news is likely net positive for the company, Lavery tells investors in a research note after the FDA announced intentions to reduce nicotine levels in cigarettes. He reiterates an Overweight rating on Philip Morris with a $134 price target
07/31/17
WELS
07/31/17
NO CHANGE
WELS
Altria Group still likely to be acquired after FDA news,says Wells Fargo
After the FDA announced a new approach towards nicotine Friday, Wells Fargo expects Altria (MO) to be "a big beneficiary" of the approach, since it will spur much higher purchases of reduced-risk products and smokeless cigarettes, leading to share gains for Altria, according to the firm. Wells believes that the FDA's announcement may increase the value of Altria to "close to $90 per share" from $80 per share previously, and it continues to expect the company to be acquired by Philip Morris (PM). Wells thinks that tobacco stocks could experience an "overhang in the near-term," but it says the news "could be positive" for the sector over the longer term, as it thinks the large tobacco companies will ultimately benefit from the change in consumption trends. British American Tobacco (BTI) is another publicly traded company in the sector.
08/30/17
MSCO
08/30/17
NO CHANGE
MSCO
Overweight
British American Tobacco recent weakness appears overdone, says Morgan Stanley
Morgan Stanley analyst Matthew Grainger said he views some degree of weakness in U.S. and European tobacco stocks since "FDA Friday" - when the agency announced plan to pursue reduced nicotine content in cigarettes - as warranted, but he views the impact on British American Tobacco (BTI) as being overstated by the stock's 11% pullback. For Altria Group (MO), which is down 14% since that day, he sees the move as having returned the stock to appropriate valuation levels, he added. Grainger lowered his price target for Altria to $65 from $68, kept his Philip Morris (PM) price target of $120 unchanged and maintains his British American target at GBP60.
09/06/17
PIPR
09/06/17
NO CHANGE
Target $135
PIPR
Overweight
Piper positive on Philip Morris after iQOS checks in Europe
Piper Jaffray analyst Michael Lavery says his European channel checks show strong momentum on iQOS, Philip Morris' heated tobacco product. Visits to Serbia, Russia, and Poland indicated iQOS has a better than expected presence, Lavery tells investors in a research note. The analyst is more bullish on the company's potential for incremental earnings from iQOS and continues to believe his earnings estimates for Philip Morris are likely to be conservative. Lavery raised his price target for the shares to $135 from $134 and keeps an Overweight rating on the name.

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