Altria Group (NYSE:MO) Stock Price Up 1% – Still a Buy?

Shares of Altria Group, Inc. (NYSE:MO) shot up 1% during trading on Wednesday . The stock traded as high as $58.19 and last traded at $58.09. 1,587,628 shares were traded during mid-day trading, a decline of 84% from the average session volume of 9,681,152 shares. The stock had previously closed at $57.52.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MO shares. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a report on Tuesday, April 1st. Morgan Stanley lowered their target price on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Finally, UBS Group boosted their price target on Altria Group from $42.00 to $46.00 and gave the company a “sell” rating in a report on Tuesday, April 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.00.

Altria Group Stock Performance

The stock has a market cap of $97.20 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 2.89 and a beta of 0.54. The business’s 50 day moving average is $56.41 and its 200-day moving average is $54.13.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, beating 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 anticipate that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.10%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group’s dividend payout ratio is currently 62.29%.

Hedge Funds Weigh In On Altria Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its position in Altria Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 2,159,890 shares of the company’s stock valued at $107,679,000 after purchasing an additional 46,697 shares during the period. Czech National Bank lifted its stake in Altria Group by 5.7% during the 4th quarter. Czech National Bank now owns 367,469 shares of the company’s stock worth $19,215,000 after acquiring an additional 19,893 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in Altria Group by 5.3% during the 4th quarter. CWA Asset Management Group LLC now owns 240,454 shares of the company’s stock valued at $12,573,000 after acquiring an additional 12,011 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in shares of Altria Group by 48.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 89,761 shares of the company’s stock valued at $4,581,000 after purchasing an additional 29,421 shares during the period. Finally, Csenge Advisory Group grew its stake in shares of Altria Group by 29.1% in the fourth quarter. Csenge Advisory Group now owns 54,684 shares of the company’s stock worth $2,859,000 after acquiring an additional 12,320 shares in the last quarter. Hedge funds and other institutional investors 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.