Altria Group (NYSE:MO) Trading Down 0.9% – What’s Next?

Shares of Altria Group, Inc. (NYSE:MO) traded down 0.9% on Wednesday . The stock traded as low as $50.85 and last traded at $50.91. Approximately 1,746,607 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 6,097,403 shares. The stock had previously closed at $51.36.

Analyst Upgrades and Downgrades

Several research firms recently commented on MO. Deutsche Bank Aktiengesellschaft increased their price objective on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus increased their price objective on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley began coverage on shares of Altria Group in a research report on Thursday. They issued an “equal weight” rating and a $54.00 target price for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and a consensus target price of $53.43.

Altria Group Trading Up 1.5 %

The firm has a market cap of $87.99 billion, a PE ratio of 8.77, a PEG ratio of 2.69 and a beta of 0.64. The company’s 50 day moving average price is $54.33 and its two-hundred day moving average price is $51.91.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. Altria Group’s revenue for the quarter was up 18.6% on a year-over-year basis. Equities research analysts expect that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 7.86%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s payout ratio is 68.92%.

Hedge Funds Weigh In On Altria Group

Hedge funds have recently modified their holdings of the company. Aviance Capital Partners LLC raised its position in shares of Altria Group by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after purchasing an additional 191 shares during the period. Delta Investment Management LLC increased its stake in Altria Group by 2.9% in the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after buying an additional 198 shares in the last quarter. Fragasso Financial Advisors Inc raised its holdings 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 acquiring an additional 199 shares during the period. American Institute for Advanced Investment Management LLP lifted its position in shares of Altria Group by 3.5% in the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after acquiring an additional 200 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC lifted its position in shares of Altria Group by 3.5% in the third quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after acquiring an additional 200 shares in the last quarter. 57.41% of the stock is currently 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.