Altria Group (NYSE:MO) Shares Up 1.8% – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s share price was up 1.8% during mid-day trading on Monday . The company traded as high as $53.44 and last traded at $53.00. Approximately 2,918,803 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 6,637,398 shares. The stock had previously closed at $52.05.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley assumed coverage on Altria Group in a report on Thursday, January 16th. They set an “equal weight” rating and a $54.00 target price on the stock. Barclays upped their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. Deutsche Bank Aktiengesellschaft raised their price target on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus upped their price objective on shares of Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Altria Group currently has a consensus rating of “Hold” and a consensus target price of $53.43.

Altria Group Stock Up 0.4 %

The stock has a 50 day moving average price of $53.81 and a 200 day moving average price of $52.29. The stock has a market capitalization of $89.50 billion, a price-to-earnings ratio of 8.92, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. Sell-side analysts forecast that Altria Group, Inc. will post 5.13 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date was Thursday, December 26th. This represents a $4.08 annualized dividend and a dividend yield of 7.73%. Altria Group’s payout ratio is 68.92%.

Institutional Investors Weigh In On Altria Group

A number of large investors have recently bought and sold shares of the stock. Financial Life Planners acquired a new position in shares of Altria Group during the fourth quarter worth approximately $25,000. True Wealth Design LLC raised its holdings in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Altria Group in the third quarter valued at $34,000. Peterson Financial Group Inc. acquired a new position in shares of Altria Group during the third quarter valued at about $41,000. Finally, Fairman Group LLC raised its holdings in shares of Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after acquiring an additional 410 shares during the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

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.