Altria Group (NYSE:MO) Trading Up 3.3% – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s stock price rose 3.3% on Thursday . The stock traded as high as $59.15 and last traded at $59.02. Approximately 4,538,016 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 8,933,787 shares. The stock had previously closed at $57.12.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MO. Morgan Stanley reduced their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. UBS Group lifted their target price on Altria Group from $42.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $54.00.

Altria Group Price Performance

The business has a fifty day moving average of $55.72 and a 200-day moving average of $53.78. The stock has a market capitalization of $94.77 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last announced its quarterly earnings data 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, research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.28%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio is presently 62.29%.

Institutional Investors Weigh In On Altria Group

Hedge funds have recently modified their holdings of the stock. Financial Life Planners acquired a new position in shares of Altria Group in the fourth quarter worth about $25,000. Redwood Park Advisors LLC purchased a new position in Altria Group during the 4th quarter worth approximately $26,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group during the 4th quarter valued at $29,000. Marshall Investment Management LLC purchased a new stake in shares of Altria Group in the fourth quarter valued at $32,000. Finally, Promus Capital LLC acquired a new stake in shares of Altria Group in the fourth quarter worth $33,000. 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.