Altria Group (NYSE:MO) Trading Down 0.7% – Here’s Why

Altria Group, Inc. (NYSE:MO)’s stock price fell 0.7% during trading on Friday . The stock traded as low as $48.86 and last traded at $49.39. 1,923,155 shares were traded during trading, a decline of 81% from the average session volume of 9,935,194 shares. The stock had previously closed at $49.74.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MO shares. Stifel Nicolaus upped their target price on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. UBS Group increased their price target on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a report on Monday, September 9th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 8th. Bank of America reduced their target price on shares of Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Barclays boosted their target price on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.20.

Altria Group Price Performance

The stock has a market capitalization of $85.11 billion, a PE ratio of 10.33, a P/E/G ratio of 2.90 and a beta of 0.65. The stock’s fifty day moving average is $51.55 and its 200-day moving average is $47.71.

Altria Group (NYSE:MO) last posted its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the company earned $1.31 earnings per share. The company’s revenue was up 14.2% compared to the same quarter last year. On average, analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were paid a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 8.23%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, September 16th. Altria Group’s dividend payout ratio is presently 85.36%.

Institutional Investors Weigh In On Altria Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Delta Investment Management LLC lifted its position in Altria Group by 2.9% in the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after purchasing an additional 198 shares during the period. Scarborough Advisors LLC raised its stake in shares of Altria Group by 18.5% during the 2nd quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after buying an additional 200 shares in the last quarter. Zhang Financial LLC lifted its holdings in shares of Altria Group by 1.1% in the 3rd quarter. Zhang Financial LLC now owns 18,454 shares of the company’s stock valued at $942,000 after buying an additional 202 shares during the period. Hollencrest Capital Management boosted its stake in shares of Altria Group by 0.3% in the second quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock valued at $3,489,000 after buying an additional 203 shares in the last quarter. Finally, SP Asset Management LLC grew its holdings in Altria Group by 2.5% during the second quarter. SP Asset Management LLC now owns 8,211 shares of the company’s stock worth $374,000 after acquiring an additional 204 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.