Altria Group (NYSE:MO) Sets New 12-Month High – Here’s What Happened

Altria Group, Inc. (NYSE:MO) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $59.78 and last traded at $59.42, with a volume of 2069690 shares changing hands. The stock had previously closed at $58.15.

Analysts Set New Price Targets

Several brokerages recently commented on MO. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley lowered their price target 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 equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Altria Group has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Stock Performance

The firm has a market capitalization of $101.02 billion, a PE ratio of 9.13, a P/E/G ratio of 2.89 and a beta of 0.56. The business’s 50 day moving average price is $55.07 and its 200-day moving average price is $53.60.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. As a group, analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 6.83%. Altria Group’s dividend payout ratio (DPR) is 62.29%.

Hedge Funds Weigh In On Altria Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Altria Group by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 263,131 shares of the company’s stock worth $13,759,000 after acquiring an additional 36,167 shares in the last quarter. Prostatis Group LLC raised its holdings in Altria Group by 10.1% during the fourth quarter. Prostatis Group LLC now owns 5,935 shares of the company’s stock worth $310,000 after purchasing an additional 545 shares in the last quarter. Chancellor Financial Group WB LP purchased a new stake in shares of Altria Group during the 4th quarter worth approximately $316,000. 111 Capital acquired a new position in shares of Altria Group in the 4th quarter valued at $795,000. Finally, Northstar Financial Companies Inc. acquired a new position in shares of Altria Group in the 4th quarter valued at $639,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

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.