Altria Group, Inc. (NYSE:MO) Plans $0.90 Quarterly Dividend

Altria Group, Inc. (NYSE:MOGet Rating) announced a quarterly dividend on Thursday, May 19th, Zacks reports. Investors of record on Wednesday, June 15th will be paid a dividend of 0.90 per share on Monday, July 11th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date is Tuesday, June 14th.

Altria Group has raised its dividend by an average of 5.5% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Altria Group has a dividend payout ratio of 69.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Altria Group to earn $5.15 per share next year, which means the company should continue to be able to cover its $3.60 annual dividend with an expected future payout ratio of 69.9%.

Shares of NYSE:MO opened at $51.09 on Friday. Altria Group has a fifty-two week low of $42.53 and a fifty-two week high of $57.05. The firm has a 50-day simple moving average of $53.69 and a 200 day simple moving average of $50.08. The company has a market cap of $92.50 billion, a PE ratio of 31.15, a P/E/G ratio of 2.64 and a beta of 0.50.

Altria Group (NYSE:MOGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Altria Group had a net margin of 11.64% and a negative return on equity of 2,506.92%. The business had revenue of $4.82 billion during the quarter, compared to the consensus estimate of $4.88 billion. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, analysts expect that Altria Group will post 4.84 earnings per share for the current fiscal year.

A number of research firms have issued reports on MO. The Goldman Sachs Group raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $48.00 to $57.00 in a research note on Tuesday, March 22nd. StockNews.com began coverage on shares of Altria Group in a research note on Thursday, March 31st. They set a “buy” rating for the company. Cowen boosted their target price on shares of Altria Group from $51.00 to $53.00 in a research note on Thursday, April 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Altria Group from $54.00 to $60.00 in a research note on Friday, April 29th. Finally, Morgan Stanley upped their price target on shares of Altria Group from $47.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and a consensus price target of $53.75.

A number of hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in Altria Group by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 36,302,349 shares of the company’s stock valued at $1,896,798,000 after purchasing an additional 2,178,596 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Altria Group by 4.0% during the fourth quarter. Deutsche Bank AG now owns 5,556,730 shares of the company’s stock valued at $263,334,000 after acquiring an additional 211,173 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Altria Group by 64.1% during the first quarter. Renaissance Technologies LLC now owns 3,771,516 shares of the company’s stock valued at $197,062,000 after acquiring an additional 1,472,800 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Altria Group by 3.4% during the first quarter. Mackenzie Financial Corp now owns 2,711,773 shares of the company’s stock valued at $141,690,000 after acquiring an additional 89,334 shares during the period. Finally, First Trust Advisors LP raised its holdings in shares of Altria Group by 4.5% during the first quarter. First Trust Advisors LP now owns 2,064,265 shares of the company’s stock valued at $107,858,000 after acquiring an additional 89,556 shares during the period. 59.05% of the stock is owned by institutional investors and hedge funds.

Altria Group Company Profile (Get Rating)

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company provides cigarettes primarily under the Marlboro brand; cigars and pipe tobacco principally under the Black & Mild brand; and moist smokeless tobacco products under the Copenhagen, Skoal, Red Seal, and Husky brands, as well as provides on! oral nicotine pouches.

Further Reading

Dividend History for Altria Group (NYSE:MO)

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