Altria Group (NYSE:MO) Trading Down 0.1% – Here’s What Happened

Altria Group, Inc. (NYSE:MO) shares dropped 0.1% during mid-day trading on Thursday . The stock traded as low as $54.50 and last traded at $55.20. Approximately 1,463,402 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 9,761,530 shares. The stock had previously closed at $55.25.

Analyst Upgrades and Downgrades

Several research firms recently commented on MO. Deutsche Bank Aktiengesellschaft increased their target price on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Barclays upped their target price on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, UBS Group upped their price objective on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $51.33.

Altria Group Stock Up 1.0 %

The firm’s 50-day moving average is $51.59 and its two-hundred day moving average is $49.22. The stock has a market cap of $94.80 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 3.14 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the company posted $1.28 earnings per share. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. 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. Stockholders of record on Monday, September 16th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.29%. This is a boost 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 currently 68.92%.

Hedge Funds Weigh In On Altria Group

A number of institutional investors and hedge funds have recently bought and sold shares of MO. True Wealth Design LLC increased its holdings in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the period. MFA Wealth Advisors LLC acquired a new stake in Altria Group during the second quarter worth about $27,000. Legacy Investment Solutions LLC bought a new position in Altria Group during the third quarter valued at about $34,000. Hobbs Group Advisors LLC acquired a new position in Altria Group in the 2nd quarter valued at approximately $30,000. Finally, Valley Wealth Managers Inc. lifted its position in shares of Altria Group by 63.9% in the 2nd quarter. Valley Wealth Managers Inc. now owns 667 shares of the company’s stock worth $30,000 after acquiring an additional 260 shares during the period. 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.