Altria Group (NYSE:MO) Trading Up 0.8% – Here’s Why

Shares of Altria Group, Inc. (NYSE:MO) were up 0.8% on Tuesday . The stock traded as high as $54.38 and last traded at $54.35. Approximately 874,713 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 9,778,618 shares. The stock had previously closed at $53.93.

Analyst Upgrades and Downgrades

MO has been the subject of several research reports. Citigroup upped their price target on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Barclays increased their target price on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research report on Wednesday, November 6th. UBS Group boosted their price target on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Bank of America reduced their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and a consensus price target of $51.33.

Altria Group Stock Performance

The business’s 50 day moving average is $51.50 and its 200-day moving average is $48.97. The stock has a market cap of $92.27 billion, a price-to-earnings ratio of 9.18, a PEG ratio of 3.07 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The business’s revenue was up 18.6% on a year-over-year basis. Sell-side analysts anticipate that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.49%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s dividend payout ratio is presently 68.92%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. MFA Wealth Advisors LLC acquired a new stake in shares of Altria Group during the second quarter worth about $27,000. Hobbs Group Advisors LLC purchased a new stake in Altria Group during the 2nd quarter worth approximately $30,000. Valley Wealth Managers Inc. lifted its holdings in Altria Group by 63.9% during the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after buying an additional 260 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Altria Group in the 3rd quarter valued at approximately $41,000. Finally, Lynx Investment Advisory acquired a new position in shares of Altria Group in the second quarter worth $44,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

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.