Altria Group (NYSE:MO) Trading 1.5% Higher – Here’s What Happened

Altria Group, Inc. (NYSE:MO) was up 1.5% during mid-day trading on Friday . The stock traded as high as $58.55 and last traded at $57.89. Approximately 3,235,750 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 7,791,579 shares. The stock had previously closed at $57.01.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MO. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley decreased their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.29.

Altria Group Price Performance

The firm has a 50-day simple moving average of $53.04 and a 200 day simple moving average of $53.04. The firm has a market cap of $97.90 billion, a PE ratio of 8.84, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) 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%. Sell-side analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.05%. Altria Group’s payout ratio is presently 62.29%.

Hedge Funds Weigh In On Altria Group

Institutional investors have recently bought and sold shares of the stock. Aegis Wealth Management LLC bought a new position in shares of Altria Group in the fourth quarter worth about $336,000. Copia Wealth Management purchased a new stake in Altria Group during the 4th quarter valued at approximately $62,000. Wood Tarver Financial Group LLC bought a new stake in shares of Altria Group during the fourth quarter valued at approximately $68,000. Siemens Fonds Invest GmbH boosted its position in shares of Altria Group by 1,209.2% during the fourth quarter. Siemens Fonds Invest GmbH now owns 139,512 shares of the company’s stock worth $7,295,000 after acquiring an additional 128,856 shares during the last quarter. Finally, Park Square Financial Group LLC purchased a new position in Altria Group during the fourth quarter valued at $166,000. 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.