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

Altria Group, Inc. (NYSE:MO) announced a quarterly dividend on Thursday, August 21st, RTT News reports. Shareholders of record on Monday, September 15th will be given a dividend of 1.06 per share on Friday, October 10th. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Monday, September 15th. This is a 3.9% increase from Altria Group’s previous quarterly dividend of $1.02.

Altria Group has a dividend payout ratio of 73.6% meaning its dividend is sufficiently covered by earnings. 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 $4.08 annual dividend with an expected future payout ratio of 73.6%.

Altria Group Stock Up 0.1%

Altria Group stock opened at $67.6280 on Friday. The business has a fifty day moving average of $60.92 and a two-hundred day moving average of $58.66. The firm has a market cap of $113.61 billion, a P/E ratio of 13.08, a P/E/G ratio of 3.63 and a beta of 0.59. Altria Group has a twelve month low of $48.86 and a twelve month high of $67.87.

Altria Group (NYSE:MO) last posted its earnings results on Wednesday, July 30th. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.07. Altria Group had a negative return on equity of 295.26% and a net margin of 37.24%.The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.21 billion. During the same quarter in the prior year, the business earned $1.31 earnings per share. Altria Group’s revenue was up .2% on a year-over-year basis. Altria Group has set its FY 2025 guidance at 5.350-5.450 EPS. Equities analysts expect that Altria Group will post 5.32 earnings per share for the current year.

Institutional Investors Weigh In On Altria Group

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Altria Group by 1.0% in the 2nd quarter. Vanguard Group Inc. now owns 159,717,148 shares of the company’s stock worth $9,364,216,000 after purchasing an additional 1,599,923 shares in the last quarter. State Street Corp lifted its stake in Altria Group by 1.2% in the 2nd quarter. State Street Corp now owns 72,367,263 shares of the company’s stock worth $4,315,438,000 after purchasing an additional 886,583 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Altria Group by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 63,288,773 shares of the company’s stock worth $3,798,592,000 after purchasing an additional 3,483,487 shares in the last quarter. Geode Capital Management LLC lifted its stake in Altria Group by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 44,724,475 shares of the company’s stock worth $2,620,229,000 after purchasing an additional 764,221 shares in the last quarter. Finally, GQG Partners LLC lifted its stake in Altria Group by 8,146.4% in the 1st quarter. GQG Partners LLC now owns 18,698,594 shares of the company’s stock worth $1,122,290,000 after purchasing an additional 18,471,846 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

About Altria Group

Altria Group, Inc, through its subsidiaries, manufactures and sells smokeable and oral tobacco products in the United States. The company offers cigarettes primarily under the Marlboro brand; large cigars and pipe tobacco under the Black & Mild brand; moist smokeless tobacco and snus products under the Copenhagen, Skoal, Red Seal, and Husky brands; oral nicotine pouches under the on! brand; and e-vapor products under the NJOY ACE brand.