Altria Group (NYSE:MO) Trading 0.4% Higher – Still a Buy?

Altria Group, Inc. (NYSE:MO)’s share price rose 0.4% on Wednesday . The stock traded as high as $53.11 and last traded at $52.79. Approximately 1,846,221 shares changed hands during trading, a decline of 74% from the average daily volume of 6,976,216 shares. The stock had previously closed at $52.60.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Stifel Nicolaus upped their target price on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Morgan Stanley decreased their price target on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Finally, Citigroup boosted their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Altria Group currently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Up 1.3 %

The stock has a fifty day moving average of $53.66 and a 200-day moving average of $52.29. The firm has a market capitalization of $88.46 billion, a P/E ratio of 8.82, a PEG ratio of 2.76 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. As a group, analysts forecast that Altria Group, Inc. will post 5.13 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.82%. Altria Group’s dividend payout ratio (DPR) is currently 68.92%.

Hedge Funds Weigh In On Altria Group

Several hedge funds have recently added to or reduced their stakes in the company. Algert Global LLC boosted its position in shares of Altria Group by 32.0% in the 2nd quarter. Algert Global LLC now owns 9,600 shares of the company’s stock worth $437,000 after purchasing an additional 2,330 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Altria Group in the second quarter valued at about $16,747,000. Heritage Wealth Management Inc. bought a new position in Altria Group during the second quarter worth about $443,000. Anchor Investment Management LLC grew its position in shares of Altria Group by 7.9% during the 2nd quarter. Anchor Investment Management LLC now owns 9,696 shares of the company’s stock worth $442,000 after buying an additional 708 shares during the period. Finally, First Financial Bank Trust Division increased its stake in shares of Altria Group by 5.7% in the 3rd quarter. First Financial Bank Trust Division now owns 7,176 shares of the company’s stock valued at $366,000 after acquiring an additional 387 shares during the last quarter. Institutional investors own 57.41% of the company’s stock.

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.