Altria Group (NYSE:MO) declared a quarterly dividend on Wednesday, December 6th, RTT News reports. Shareholders of record on Thursday, December 21st will be given a dividend of 0.66 per share on Wednesday, January 10th. This represents a $2.64 annualized dividend and a yield of 3.76%. The ex-dividend date is Wednesday, December 20th.
Altria Group has increased its dividend by an average of 8.6% per year over the last three years and has raised its dividend every year for the last 8 years. Altria Group has a payout ratio of 80.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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) traded up $0.10 during trading on Wednesday, hitting $70.18. The stock had a trading volume of 8,431,801 shares, compared to its average volume of 6,795,125. The stock has a market cap of $133,725.95, a PE ratio of 22.18, a price-to-earnings-growth ratio of 2.86 and a beta of 0.62. The company has a current ratio of 0.77, a quick ratio of 0.48 and a debt-to-equity ratio of 1.14. Altria Group has a 12-month low of $60.01 and a 12-month high of $77.79.
In other Altria Group news, Director Dinyar S. Devitre sold 32,000 shares of Altria Group stock in a transaction on 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.11% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Altria Group in the second quarter worth about $243,000. Koch Industries Inc. raised its holdings in Altria Group by 3,300.8% in the 2nd quarter. Koch Industries Inc. now owns 288,522 shares of the company’s stock valued at $285,000 after acquiring an additional 280,038 shares during the last quarter. National Asset Management Inc. raised its holdings in Altria Group by 0.9% in the 2nd quarter. National Asset Management Inc. now owns 68,248 shares of the company’s stock valued at $5,085,000 after acquiring an additional 619 shares during the last quarter. Piedmont Investment Advisors LLC raised its holdings in Altria Group by 0.4% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 528,837 shares of the company’s stock valued at $39,382,000 after acquiring an additional 1,961 shares during the last quarter. Finally, Krilogy Financial LLC raised its holdings in Altria Group by 1.1% in the 2nd quarter. Krilogy Financial LLC now owns 13,692 shares of the company’s stock valued at $1,020,000 after acquiring an additional 155 shares during the last quarter. 62.70% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on MO shares. UBS restated a “hold” rating on shares of Altria Group in a report on Tuesday, August 8th. Jefferies Group set a $67.00 price objective on Altria Group and gave the company a “hold” rating in a report on Thursday, August 24th. BidaskClub cut Altria Group from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Vetr cut Altria Group from a “strong-buy” rating to a “buy” rating and set a $69.00 price objective for the company. in a report on Wednesday, September 6th. Finally, Cowen restated a “hold” rating on shares of Altria Group in a report on Sunday, September 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Altria Group presently has an average rating of “Hold” and an average target price of $72.90.
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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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