Altria Group (NYSE:MO) Trading 0.4% Higher

Altria Group, Inc. (NYSE:MO)’s stock price was up 0.4% during mid-day trading on Wednesday . The stock traded as high as $51.86 and last traded at $51.67. Approximately 1,433,065 shares were traded during trading, a decline of 86% from the average daily volume of 10,472,294 shares. The stock had previously closed at $51.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MO shares. Stifel Nicolaus lifted their price target on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Bank of America boosted their price objective on shares of Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Argus raised shares of Altria Group to a “hold” rating in a report on Friday, May 31st. Finally, Barclays lifted their price objective on Altria Group from $37.00 to $43.00 and gave the company an “underweight” rating in a research note on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $47.08.

Altria Group Price Performance

The stock has a market capitalization of $90.06 billion, a PE ratio of 10.97, a P/E/G ratio of 3.07 and a beta of 0.66. The firm’s 50 day simple moving average is $48.53 and its 200 day simple moving average is $45.05.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.31 earnings per share. Analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be paid a $1.02 dividend. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 7.78%. The ex-dividend date is Monday, September 16th. Altria Group’s payout ratio is 82.01%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Altria Group in the 4th quarter worth approximately $3,945,000. GAMMA Investing LLC bought a new position in Altria Group in the 4th quarter worth $330,000. Alaska Permanent Fund Corp lifted its position in shares of Altria Group by 3.4% in the 4th quarter. Alaska Permanent Fund Corp now owns 53,375 shares of the company’s stock worth $2,153,000 after purchasing an additional 1,775 shares during the period. Bfsg LLC bought a new position in Altria Group in the fourth quarter worth about $77,000. Finally, Atria Wealth Solutions Inc. lifted its holdings in Altria Group by 8.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 161,628 shares of the company’s stock worth $6,542,000 after buying an additional 12,659 shares during the period. 57.41% of the stock is owned by hedge funds and other institutional investors.

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.