Altria Group Inc (NYSE:MO) announced a quarterly dividend on Wednesday, December 6th, RTT News reports. Stockholders of record on Thursday, December 21st will be paid a dividend of 0.66 per share on Wednesday, January 10th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Wednesday, December 20th.
Altria Group has raised its dividend by an average of 8.6% per year over the last three years and has increased its dividend annually for the last 8 consecutive years. Altria Group has a payout ratio of 80.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Altria Group to earn $3.57 per share next year, which means the company should continue to be able to cover its $2.64 annual dividend with an expected future payout ratio of 73.9%.
Shares of Altria Group (NYSE:MO) opened at $72.65 on Tuesday. Altria Group has a 12 month low of $60.01 and a 12 month high of $77.79. The firm has a market capitalization of $136,759.97, a price-to-earnings ratio of 22.68, a PEG ratio of 2.93 and a beta of 0.62. The company has a quick ratio of 0.48, a current ratio of 0.77 and a debt-to-equity ratio of 1.14.
MO has been the subject of a number of research reports. Jefferies Group set a $72.00 target price on Altria Group and gave the company a “hold” rating in a research note on Friday, November 17th. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $71.65 price target on the stock. in a report on Monday, November 13th. Zacks Investment Research cut Altria Group from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $76.00 price target on shares of Altria Group in a report on Friday, October 27th. Finally, BidaskClub cut Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $72.64.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $61.22, for a total transaction of $1,959,040.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Balentine LLC lifted its holdings in shares of Altria Group by 32.4% during the 2nd quarter. Balentine LLC now owns 1,460 shares of the company’s stock valued at $109,000 after purchasing an additional 357 shares in the last quarter. Fieldpoint Private Securities LLC lifted its holdings in shares of Altria Group by 6.3% during the 2nd quarter. Fieldpoint Private Securities LLC now owns 1,952 shares of the company’s stock valued at $145,000 after purchasing an additional 115 shares in the last quarter. Capstone Investment Advisors Netherlands B.V. bought a new position in shares of Altria Group during the 2nd quarter valued at about $158,000. Clarius Group LLC bought a new position in shares of Altria Group during the 2nd quarter valued at about $201,000. Finally, Financial Partners Capital Management LLC bought a new position in shares of Altria Group during the 2nd quarter valued at about $206,000. Institutional investors and hedge funds own 62.62% of the company’s stock.
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Altria Group Company Profile
Altria Group, Inc is a holding company. The Company’s segments include smokeable products, smokeless products and wine. The Company’s subsidiaries include Philip Morris USA Inc (PM USA), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co (Middleton), which is engaged in the manufacture and sale of machine-made cigars and pipe tobacco, and UST LLC (UST), which, through its subsidiaries, including U.S.
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