Altria Group (NYSE:MO) Trading Down 0.4% – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s stock price was down 0.4% during mid-day trading on Tuesday . The company traded as low as $56.01 and last traded at $56.12. Approximately 1,227,782 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 9,735,099 shares. The stock had previously closed at $56.34.

Analyst Ratings Changes

A number of research analysts recently issued reports on MO shares. UBS Group raised their price objective on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Deutsche Bank Aktiengesellschaft boosted their target price on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus increased their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays boosted their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Finally, Bank of America cut their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altria Group has a consensus rating of “Hold” and a consensus target price of $51.33.

Altria Group Trading Down 0.6 %

The stock’s fifty day simple moving average is $51.63 and its 200-day simple moving average is $49.38. The stock has a market capitalization of $94.88 billion, a PE ratio of 9.48, a P/E/G ratio of 3.18 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the prior year, the firm posted $1.28 EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. As a group, analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a $1.02 dividend. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 7.29%. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s payout ratio is currently 68.92%.

Institutional Investors Weigh In On Altria Group

Several large investors have recently made changes to their positions in the business. True Wealth Design LLC boosted its holdings in shares of Altria Group by 420.0% in the 3rd 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. MFA Wealth Advisors LLC purchased a new position in Altria Group in the second quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new stake in Altria Group during the 3rd quarter valued at $34,000. Hobbs Group Advisors LLC bought a new stake in shares of Altria Group during the 2nd quarter worth $30,000. Finally, Valley Wealth Managers Inc. raised its stake in shares of Altria Group by 63.9% during the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after acquiring an additional 260 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

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.