Altria Group (NYSE:MO) Trading 0.8% Higher After Dividend Announcement

Altria Group, Inc. (NYSE:MO)’s stock price was up 0.8% during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $56.09 and last traded at $55.52. Approximately 1,579,711 shares changed hands during trading, a decline of 79% from the average daily volume of 7,381,714 shares. The stock had previously closed at $55.08.

The newly announced dividend which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.31%. Altria Group’s payout ratio is 62.29%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus upped their price target on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. 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. Barclays upped their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.29.

Altria Group Stock Performance

The firm has a market capitalization of $94.61 billion, a P/E ratio of 8.52, a P/E/G ratio of 2.89 and a beta of 0.64. The stock’s 50 day simple moving average is $52.77 and its 200 day simple moving average is $52.89.

Altria Group (NYSE:MO) last issued its earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping 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, analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Institutional Investors Weigh In On Altria Group

Several hedge funds have recently modified their holdings of MO. Financial Life Planners purchased a new stake in shares of Altria Group in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new stake in shares of Altria Group in the 4th quarter worth approximately $26,000. True Wealth Design LLC lifted its position in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the period. VSM Wealth Advisory LLC purchased a new stake in shares of Altria Group in the 4th quarter worth approximately $29,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Altria Group in the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

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.