Altria Group (NYSE:MO) Shares Up 1.2% on Strong Earnings

Altria Group, Inc. (NYSE:MO)’s share price traded up 1.2% during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $52.17 and last traded at $52.14. 1,514,157 shares changed hands during trading, a decline of 80% from the average session volume of 7,509,943 shares. The stock had previously closed at $51.54.

The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%.

Altria Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 annualized dividend and a yield of 7.83%. Altria Group’s payout ratio is presently 68.92%.

Wall Street Analysts Forecast Growth

MO has been the subject of several research analyst reports. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $55.00 to $65.00 in a research note on Friday, December 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. 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 research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley reduced their price objective on Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Altria Group has an average rating of “Hold” and an average target price of $53.29.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Financial Life Planners bought a new position in Altria Group in the 4th quarter worth $25,000. True Wealth Design LLC grew its position in shares of 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 purchasing an additional 462 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in Altria Group during the 3rd quarter valued at approximately $34,000. Peterson Financial Group Inc. purchased a new position in Altria Group in the 3rd quarter worth approximately $41,000. Finally, Fairman Group LLC lifted its holdings in shares of Altria Group by 85.1% in the third quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after buying an additional 410 shares in the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Stock Performance

The firm has a market cap of $88.37 billion, a P/E ratio of 8.81, a P/E/G ratio of 2.76 and a beta of 0.64. The firm’s fifty day simple moving average is $53.66 and its 200 day simple moving average is $52.29.

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.