Altria Group, Inc. (NYSE:MO – Get Free Report) declared a quarterly dividend on Thursday, May 14th. Stockholders of record on Monday, June 15th will be given a dividend of 1.06 per share on Friday, July 10th. This represents a c) dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Monday, June 15th.
Altria Group has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 56 consecutive years. Altria Group has a payout ratio of 76.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Altria Group to earn $5.86 per share next year, which means the company should continue to be able to cover its $4.24 annual dividend with an expected future payout ratio of 72.4%.
Altria Group Trading Up 0.6%
Shares of Altria Group stock traded up $0.44 during trading hours on Friday, reaching $72.85. The stock had a trading volume of 4,460,102 shares, compared to its average volume of 9,943,777. The firm has a 50 day simple moving average of $66.92 and a two-hundred day simple moving average of $62.97. The firm has a market capitalization of $121.64 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 2.68 and a beta of 0.48. Altria Group has a 1 year low of $54.70 and a 1 year high of $74.56.
Wall Street Analyst Weigh In
MO has been the subject of a number of recent research reports. Barclays increased their target price on Altria Group from $63.00 to $64.00 and gave the company an “underweight” rating in a research note on Friday. The Goldman Sachs Group restated a “buy” rating and set a $77.00 price objective on shares of Altria Group in a research note on Thursday, April 30th. Wall Street Zen raised Altria Group from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Jefferies Financial Group boosted their price target on Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a research report on Wednesday, March 4th. Finally, Morgan Stanley set a $71.00 price objective on Altria Group in a research report on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $69.33.
Check Out Our Latest Report on Altria Group
Altria Group Company Profile
Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.
Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.
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