Altria Group (NYSE:MO) Stock Price Up 1.4% – Still a Buy?

Shares of Altria Group, Inc. (NYSE:MO) were up 1.4% during mid-day trading on Wednesday . The stock traded as high as $53.30 and last traded at $53.48. Approximately 1,425,926 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 7,111,883 shares. The stock had previously closed at $52.75.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MO shares. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Barclays raised 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. Stifel Nicolaus boosted their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Stock Performance

The firm has a market capitalization of $93.22 billion, a P/E ratio of 8.40, a PEG ratio of 2.84 and a beta of 0.64. The stock has a 50 day moving average of $52.61 and a 200-day moving average of $52.66.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. As a group, sell-side analysts expect that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.42%. The ex-dividend date was Thursday, December 26th. Altria Group’s payout ratio is currently 62.29%.

Institutional Trading of Altria Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Life Planners bought a new stake in shares of Altria Group during the fourth quarter valued at about $25,000. Redwood Park Advisors LLC purchased a new position in Altria Group during the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC purchased a new position in Altria Group during the fourth quarter valued at approximately $29,000. True Wealth Design LLC increased its holdings in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares during the period. Finally, Legacy Investment Solutions LLC purchased a new stake in Altria Group in the 3rd quarter worth approximately $34,000. 57.41% of the stock is currently owned by institutional investors.

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.