Altria Group (NYSE:MO) Shares Down 0.9% – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s stock price fell 0.9% during trading on Friday . The stock traded as low as $57.51 and last traded at $57.39. 4,237,099 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 8,909,919 shares. The stock had previously closed at $57.89.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MO. Morgan Stanley lowered their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Deutsche Bank Aktiengesellschaft downgraded Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, UBS Group boosted their price objective on Altria Group from $42.00 to $46.00 and gave the company a “sell” rating in a research note on Tuesday, April 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Altria Group presently has an average rating of “Hold” and an average target price of $54.00.

Altria Group Stock Down 3.2 %

The business has a 50 day moving average price of $55.72 and a two-hundred day moving average price of $53.80. The stock has a market cap of $94.77 billion, a P/E ratio of 8.56, a price-to-earnings-growth ratio of 2.89 and a beta of 0.54.

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, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 dividend on an annualized basis and a yield of 7.28%. Altria Group’s dividend payout ratio is currently 62.29%.

Institutional Investors Weigh In On Altria Group

Hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC raised its holdings in shares of Altria Group by 4.3% during the 4th quarter. Truvestments Capital LLC now owns 4,581 shares of the company’s stock worth $240,000 after acquiring an additional 190 shares in the last quarter. Enterprise Financial Services Corp increased its position in Altria Group by 4.0% in the fourth quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company’s stock worth $264,000 after purchasing an additional 194 shares during the last quarter. Horst & Graben Wealth Management LLC raised its stake in Altria Group by 1.5% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock valued at $681,000 after purchasing an additional 198 shares in the last quarter. Fragasso Financial Advisors Inc lifted its position in Altria Group by 3.3% during the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after purchasing an additional 199 shares during the last quarter. Finally, First Citizens Financial Corp grew its stake in shares of Altria Group by 4.8% in the 4th quarter. First Citizens Financial Corp now owns 4,402 shares of the company’s stock worth $230,000 after buying an additional 200 shares in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

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.