Shares of Altria Group, Inc. (NYSE:MO – Get Free Report) shot up 0.2% during trading on Wednesday . The stock traded as high as $46.54 and last traded at $46.51. 1,459,148 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 9,727,450 shares. The stock had previously closed at $46.42.
Analyst Upgrades and Downgrades
Several brokerages have commented on MO. StockNews.com cut shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th. UBS Group boosted their price target on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a research note on Monday, April 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $50.00 price target on shares of Altria Group in a research note on Monday, March 25th. Finally, Argus upgraded shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.90.
Altria Group Trading Down 0.1 %
The firm’s 50-day moving average price is $44.93 and its 200-day moving average price is $42.66. The stock has a market capitalization of $79.63 billion, a PE ratio of 9.70, a PEG ratio of 2.81 and a beta of 0.64.
Altria Group (NYSE:MO – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. Altria Group had a net margin of 34.81% and a negative return on equity of 222.80%. The company had revenue of $4.72 billion for the quarter, compared to analyst estimates of $4.71 billion. During the same period in the prior year, the company posted $1.18 EPS. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities research analysts predict that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.
Altria Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Investors of record on Friday, June 14th will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 8.46%. The ex-dividend date is Friday, June 14th. Altria Group’s dividend payout ratio (DPR) is currently 82.01%.
Insiders Place Their Bets
In other Altria Group news, VP Charles N. Whitaker sold 22,487 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $43.95, for a total value of $988,303.65. Following the transaction, the vice president now directly owns 173,485 shares in the company, valued at approximately $7,624,665.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.
Hedge Funds Weigh In On Altria Group
A number of hedge funds and other institutional investors have recently modified their holdings of MO. Maryland Capital Advisors Inc. boosted its stake in shares of Altria Group by 154.4% during the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares in the last quarter. Accordant Advisory Group Inc bought a new position in shares of Altria Group during the first quarter valued at approximately $26,000. Criterion Capital Advisors LLC acquired a new stake in Altria Group in the fourth quarter valued at approximately $27,000. BNP Paribas acquired a new stake in Altria Group in the first quarter valued at approximately $27,000. Finally, ZRC Wealth Management LLC boosted its stake in Altria Group by 67.6% in the fourth quarter. ZRC Wealth Management LLC now owns 677 shares of the company’s stock valued at $28,000 after acquiring an additional 273 shares in the last quarter. 57.41% of the stock is currently owned by 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.