Altria Group (NYSE:MO) Trading 0.2% Higher – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s stock price was up 0.2% on Thursday . The company traded as high as $55.18 and last traded at $54.94. Approximately 1,486,963 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 7,404,230 shares. The stock had previously closed at $54.85.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus upped their price objective on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays lifted their price objective on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Finally, Morgan Stanley cut their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Trading Up 0.4 %

The company has a market cap of $93.31 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64. The firm’s fifty day moving average price is $52.69 and its 200-day moving average price is $52.83.

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, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a $1.02 dividend. The ex-dividend date was Thursday, December 26th. This represents a $4.08 annualized dividend and a yield of 7.41%. Altria Group’s dividend payout ratio is 62.29%.

Institutional Trading of Altria Group

Several hedge funds have recently added to or reduced their stakes in MO. Financial Life Planners bought a new stake in shares of Altria Group in the fourth quarter valued at approximately $25,000. Redwood Park Advisors LLC acquired a new stake in Altria Group in the fourth quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group in the fourth quarter valued at approximately $29,000. True Wealth Design LLC boosted its holdings in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after acquiring an additional 462 shares in the last quarter. Finally, Legacy Investment Solutions LLC bought a new stake in shares of Altria Group during the third quarter worth about $34,000. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Company Profile

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.