Altria Group (NYSE:MO) Stock Price Up 0.6%

Altria Group, Inc. (NYSE:MO) shares were up 0.6% on Friday . The stock traded as high as $46.99 and last traded at $46.95. Approximately 1,406,865 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 11,221,526 shares. The stock had previously closed at $46.69.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MO. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price target on shares of Altria Group in a research report on Monday, March 25th. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday, April 14th. UBS Group lifted their price target on shares of Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research report on Monday, April 8th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $46.90.

Altria Group Stock Up 0.5 %

The company has a market cap of $80.59 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 2.88 and a beta of 0.64. The business’s 50 day moving average price is $43.95 and its 200-day moving average price is $42.28.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. The firm had revenue of $4.72 billion for the quarter, compared to the consensus estimate of $4.71 billion. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 EPS. Equities analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.98 per share. The ex-dividend date is Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a yield of 8.35%. Altria Group’s dividend payout ratio (DPR) is presently 82.01%.

Insiders Place Their Bets

In related news, VP Charles N. Whitaker sold 22,487 shares of Altria Group stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the sale, the vice president now owns 173,485 shares in the company, valued at $7,624,665.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Institutional Trading of Altria Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Maryland Capital Advisors Inc. raised its holdings in shares of Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the period. Altshuler Shaham Ltd acquired a new stake in Altria Group during the third quarter worth about $26,000. Accordant Advisory Group Inc bought a new position in Altria Group in the first quarter worth about $26,000. Nemes Rush Group LLC boosted its stake in Altria Group by 103.2% in the third quarter. Nemes Rush Group LLC now owns 636 shares of the company’s stock valued at $27,000 after acquiring an additional 323 shares during the period. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Altria Group during the 4th quarter worth approximately $27,000. 57.41% of the stock is owned by 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.