Denver, CO, 06/12/2014 (Stocksntrade) – Altria Group Inc. (NYSE:MO) will traded ex-dividend from today, June 12, 2014 for a quarterly cash dividend of $0.48 per share announced on Wednesday, May 14, 2014. The dividend is scheduled to be paid on Thursday, July 10, 2014 and will be paid to shareholders on record as at Monday, June 16, 2014. The quarterly dividend of $0.48 per share represents an annualized dividend of $1.92 per share and a yield of 4.51% given the previous closing price of $42.59. This marks the fourth consecutive quarter that the company has continued paying the same dividend of $0.48 per share. Altria Group operates in the Consumer Non-Durables sector and competes with the likes of Philip Morris International Inc. (NYSE:PM), among others.
Equity research analysts at TheStreet maintain a “buy” rating for the stock of Altria Group Inc. (NYSE:MO). The rating is mainly driven by certain strengths identified in the stock by TheStreet team, including its expanding profit margins, good cash flow from operations, revenue growth, considerable ROE (return on equity) and strong stock price performance. Equity analysts at ZACKS noted in their recent research report that Altria Group is expected to outperform the industry during 2014 with earnings growth of 7.86% as compared to an industry average of -1.7%.
Several analysts have recently commented on the stock of Altria Group Inc. (NYSE:MO), including investment analysts at Stifel Nicolaus who raised their price target for the stock from $40 to $43 with a “buy” rating, in a research note issued at the start of current month. Prior to that, equity analysts at Wells Fargo & Co. downgraded the stock to a “market perform” rating and cut their price target to $41 from $43.
The stock of Altria Group Inc. (NYSE:MO) has been assigned a “hold” rating by five analysts; and a “buy” rating by four analysts. The stock currently has an average rating of “hold” with a consensus price target of $41.13.
On Wednesday, Altria Group shares hit a 52-week high of $42.71 and closed at $42.59, gaining 0.57% from its previous close.