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

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

Altria Group has raised its dividend payment by an average of 0.0%annually 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% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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 Trading Up 0.7%

NYSE MO traded up $0.46 on Friday, reaching $69.93. 3,643,788 shares of the stock were exchanged, compared to its average volume of 10,150,362. The firm has a market capitalization of $117.39 billion, a PE ratio of 17.04, a PEG ratio of 3.00 and a beta of 0.47. Altria Group has a one year low of $52.82 and a one year high of $70.51. The company’s 50-day simple moving average is $62.11 and its two-hundred day simple moving average is $62.55.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate 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 previous year, the firm posted $1.30 EPS. Altria Group’s revenue for the quarter was down .5% on a year-over-year basis. Sell-side analysts forecast that Altria Group will post 5.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altria Group

Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its position in shares of Altria Group by 62.5% during the second quarter. Ameriprise Financial Inc. now owns 16,395,070 shares of the company’s stock valued at $954,446,000 after acquiring an additional 6,302,819 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Altria Group by 10.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,516,916 shares of the company’s stock worth $3,777,931,000 after buying an additional 6,265,780 shares during the period. Marshall Wace LLP raised its position in Altria Group by 286.7% during the 3rd quarter. Marshall Wace LLP now owns 4,479,699 shares of the company’s stock worth $295,929,000 after buying an additional 3,321,262 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Altria Group by 438.6% in the fourth quarter. SG Americas Securities LLC now owns 3,637,678 shares of the company’s stock valued at $209,749,000 after buying an additional 2,962,270 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Altria Group by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 160,980,626 shares of the company’s stock worth $9,282,143,000 after acquiring an additional 1,903,530 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

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.