Altria Group, Inc. (NYSE:MO – Get Free Report) shares traded up 0.7% during mid-day trading on Wednesday . The stock traded as high as $53.53 and last traded at $53.40. 1,094,407 shares changed hands during trading, a decline of 89% from the average session volume of 10,366,117 shares. The stock had previously closed at $53.01.
Analyst Upgrades and Downgrades
Several research firms have weighed in on MO. StockNews.com upgraded shares of Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Bank of America boosted their price objective on Altria Group from $47.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Barclays boosted their price target on shares of Altria Group from $37.00 to $43.00 and gave the stock an “underweight” rating in a report on Wednesday, August 14th. Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. Finally, Stifel Nicolaus boosted their price objective on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $47.08.
Altria Group Stock Performance
The stock’s 50 day simple moving average is $48.70 and its two-hundred day simple moving average is $45.20. The firm has a market capitalization of $91.26 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 3.07 and a beta of 0.66.
Altria Group (NYSE:MO – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. 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 firm posted $1.31 EPS. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. Equities research analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.
Altria Group Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be paid a $1.02 dividend. This is an increase from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.68%. The ex-dividend date of this dividend is Monday, September 16th. Altria Group’s dividend payout ratio (DPR) is presently 85.36%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Maryland Capital Advisors Inc. boosted its holdings in shares of Altria Group by 154.4% in the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 349 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in shares of Altria Group in the 2nd quarter worth about $27,000. BNP Paribas acquired a new position in Altria Group during the first quarter valued at approximately $27,000. Hobbs Group Advisors LLC acquired a new stake in shares of Altria Group in the second quarter worth $30,000. Finally, Westend Capital Management LLC purchased a new stake in shares of Altria Group in the first quarter worth about $29,000. 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.