Altria Group (NYSE:MO) Trading Down 0.3%

Altria Group, Inc. (NYSE:MOGet Free Report) fell 0.3% during mid-day trading on Tuesday . The stock traded as low as $43.02 and last traded at $43.09. 2,002,304 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 11,654,120 shares. The stock had previously closed at $43.22.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MO shares. UBS Group reaffirmed a “sell” rating and set a $36.10 price objective on shares of Altria Group in a research report on Tuesday, January 23rd. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target on shares of Altria Group in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $46.82.

View Our Latest Analysis on MO

Altria Group Trading Down 1.9 %

The firm has a market cap of $74.29 billion, a P/E ratio of 9.22, a price-to-earnings-growth ratio of 2.59 and a beta of 0.65. The company’s fifty day moving average price is $41.68 and its two-hundred day moving average price is $41.50.

Altria Group (NYSE:MOGet Free Report) last posted its earnings results on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.01. Altria Group had a net margin of 33.21% and a negative return on equity of 244.55%. The company had revenue of $5.02 billion during the quarter, compared to analysts’ expectations of $5.06 billion. During the same quarter in the previous year, the company posted $1.18 earnings per share. Altria Group’s quarterly revenue was down 1.2% compared to the same quarter last year. On average, analysts predict that Altria Group, Inc. will post 5.08 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, March 25th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 9.30%. The ex-dividend date is Friday, March 22nd. Altria Group’s dividend payout ratio (DPR) is presently 85.78%.

Altria Group declared that its Board of Directors has approved a share buyback plan on Thursday, February 1st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Altria Group

Several hedge funds have recently added to or reduced their stakes in MO. State Street Corp grew its holdings in Altria Group by 1.8% during the 2nd quarter. State Street Corp now owns 70,564,529 shares of the company’s stock worth $3,262,710,000 after acquiring an additional 1,240,150 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Altria Group by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 44,456,064 shares of the company’s stock worth $1,857,271,000 after purchasing an additional 840,559 shares during the period. Geode Capital Management LLC increased its holdings in Altria Group by 1.9% in the first quarter. Geode Capital Management LLC now owns 35,856,051 shares of the company’s stock valued at $1,596,257,000 after purchasing an additional 671,929 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Altria Group by 5.1% in the third quarter. Bank of New York Mellon Corp now owns 24,517,169 shares of the company’s stock valued at $990,002,000 after buying an additional 1,192,266 shares during the period. Finally, Moneta Group Investment Advisors LLC boosted its holdings in Altria Group by 108,222.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,590,308 shares of the company’s stock worth $849,763,000 after buying an additional 18,573,146 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

About Altria Group

(Get Free Report)

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.

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