Altria Group (NYSE:MO) Trading Down 0.6% – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s share price fell 0.6% during trading on Thursday . The stock traded as low as $52.40 and last traded at $53.04. 1,387,293 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 7,192,424 shares. The stock had previously closed at $53.34.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus upped their price objective on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. 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 research note on Wednesday, November 6th. 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 research note on Friday, December 6th. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.29.

Altria Group Trading Down 0.5 %

The firm has a market cap of $90.44 billion, a price-to-earnings ratio of 8.15, a price-to-earnings-growth ratio of 2.80 and a beta of 0.64. The company’s 50-day moving average is $52.75 and its 200-day moving average is $52.57.

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

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid a $1.02 dividend. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.65%. Altria Group’s payout ratio is currently 62.29%.

Institutional Trading of Altria Group

A number of hedge funds have recently added to or reduced their stakes in MO. Financial Life Planners acquired a new stake in shares of Altria Group during the 4th quarter valued at $25,000. Redwood Park Advisors LLC acquired a new stake in shares of Altria Group during the fourth quarter valued at about $26,000. VSM Wealth Advisory LLC acquired a new stake in Altria Group during the 4th quarter worth approximately $29,000. True Wealth Design LLC boosted its position in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares during the period. Finally, Legacy Investment Solutions LLC acquired a new stake in Altria Group during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds 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.