Altria Group, Inc. (NYSE:MO) Plans $1.06 Quarterly Dividend

Altria Group, Inc. (NYSE:MO) announced a quarterly dividend on Thursday, February 26th. Investors of record on Wednesday, March 25th will be given a dividend of 1.06 per share on Thursday, April 30th. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Wednesday, March 25th.

Altria Group has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 56 years. Altria Group has a dividend 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 tumble. Research analysts expect Altria Group to earn $5.54 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 76.5%.

Altria Group Stock Up 0.7%

MO traded up $0.46 during midday trading on Friday, hitting $69.93. 4,662,640 shares of the company were exchanged, compared to its average volume of 10,166,382. The firm’s 50 day moving average price is $62.11 and its 200-day moving average price is $62.55. Altria Group has a 1-year low of $52.82 and a 1-year high of $70.51. The firm has a market capitalization of $117.38 billion, a P/E ratio of 17.00, a P/E/G ratio of 3.00 and a beta of 0.47.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.During the same period in the prior year, the company earned $1.30 EPS. Altria Group’s revenue for the quarter was down .5% compared to the same quarter last year. On average, sell-side analysts predict that Altria Group will post 5.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Citigroup upped their price objective on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Barclays upped their price target on shares of Altria Group from $57.00 to $63.00 and gave the company an “underweight” rating in a research report on Monday. UBS Group lifted their price objective on Altria Group from $63.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. Stifel Nicolaus cut their target price on Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Finally, Argus upgraded Altria Group to a “hold” rating in a report on Tuesday, January 13th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $64.33.

About Altria Group

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.