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

Altria Group, Inc. (NYSE:MOGet Rating) declared 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 annualized dividend and a yield of 7.05%. The ex-dividend date is Tuesday, June 14th.

Altria Group has raised its dividend payment by an average of 5.5% annually over the last three years and has increased 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. 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 MO opened at $51.09 on Friday. The firm has a market cap of $92.50 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 2.64 and a beta of 0.50. 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 moving average price of $53.69 and a 200-day moving average price of $50.08.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. Loomis Sayles & Co. L P acquired a new stake in shares of Altria Group in the 1st quarter valued at approximately $25,000. Richwood Investment Advisors LLC purchased a new stake in shares of Altria Group in the fourth quarter valued at $31,000. 1832 Asset Management L.P. purchased a new position in Altria Group during the first quarter worth about $41,000. Carroll Investors Inc purchased a new position in Altria Group during the fourth quarter worth about $38,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in Altria Group during the fourth quarter worth about $69,000. 59.05% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have issued reports on the stock. Royal Bank of Canada cut shares of Altria Group from an “outperform” rating to a “sector perform” rating and set a $53.00 target price on the stock. in a research note on Monday, March 28th. Sanford C. Bernstein cut shares of Altria Group from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $58.00 to $53.00 in a research note on Tuesday, May 10th. Cowen increased their price objective on shares of Altria Group from $51.00 to $53.00 in a report on Thursday, April 7th. Morgan Stanley raised their target price on shares of Altria Group from $47.00 to $51.00 and gave the company an “equal weight” rating in a report on Wednesday, January 26th. Finally, The Goldman Sachs Group upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $48.00 to $57.00 in a research report on Tuesday, March 22nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.75.

About Altria Group (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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