Altria Group (NYSE:MO) Shares Down 0.5% – What’s Next?

Altria Group, Inc. (NYSE:MO) shares dropped 0.5% during trading on Wednesday . The stock traded as low as $55.87 and last traded at $56.03. Approximately 1,322,017 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 7,731,927 shares. The stock had previously closed at $56.30.

Analysts Set New Price Targets

MO has been the topic of several recent analyst reports. Morgan Stanley decreased their price objective 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. Barclays boosted 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. Finally, Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Stock Down 0.3 %

The stock has a market cap of $94.90 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 2.89 and a beta of 0.64. The company’s fifty day moving average is $52.90 and its two-hundred day moving average is $52.99.

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

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a yield of 7.27%. Altria Group’s dividend payout ratio is currently 62.29%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Truvestments Capital LLC boosted its stake in Altria Group by 4.3% in the fourth quarter. Truvestments Capital LLC now owns 4,581 shares of the company’s stock valued at $240,000 after acquiring an additional 190 shares in the last quarter. Aviance Capital Partners LLC lifted its holdings in shares of Altria Group by 0.5% in 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 last quarter. Enterprise Financial Services Corp boosted its position in shares of Altria Group by 4.0% in the 4th quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company’s stock valued at $264,000 after purchasing an additional 194 shares during the period. Horst & Graben Wealth Management LLC grew its stake in Altria Group by 1.5% during the 4th quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock worth $681,000 after buying an additional 198 shares during the last quarter. Finally, Fragasso Financial Advisors Inc increased its position in Altria Group by 3.3% during the fourth quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock worth $330,000 after buying an additional 199 shares during the period. 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.