Altria Group (NYSE:MO) Shares Down 0.5%

Altria Group, Inc. (NYSE:MO)’s share price dropped 0.5% during mid-day trading on Tuesday . The stock traded as low as $40.73 and last traded at $40.76. Approximately 1,651,923 shares changed hands during trading, a decline of 86% from the average daily volume of 11,569,462 shares. The stock had previously closed at $40.95.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MO. UBS Group raised their price objective on shares of Altria Group from $36.10 to $36.50 and gave the stock a “sell” rating in a report on Monday, April 8th. StockNews.com downgraded shares of Altria Group from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $50.00 price target on shares of Altria Group in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $46.90.

Altria Group Stock Performance

The company has a market cap of $70.41 billion, a PE ratio of 8.95, a PEG ratio of 2.47 and a beta of 0.65. The stock’s 50 day moving average price is $41.83 and its 200-day moving average price is $41.44.

Altria Group (NYSE:MO) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.01. Altria Group had a negative return on equity of 244.55% and a net margin of 33.21%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same period last year, the company earned $1.18 EPS. Altria Group’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, analysts anticipate that Altria Group, Inc. will post 5.09 EPS for the current year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, March 25th will be given a $0.98 dividend. The ex-dividend date is Friday, March 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 9.56%. Altria Group’s dividend payout ratio is currently 85.78%.

Altria Group announced that its board has authorized a stock repurchase plan on Thursday, February 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 1.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Altria Group

A number of large investors have recently modified their holdings of MO. Kathmere Capital Management LLC lifted its stake in shares of Altria Group by 29.4% in the 1st quarter. Kathmere Capital Management LLC now owns 27,708 shares of the company’s stock valued at $1,209,000 after purchasing an additional 6,288 shares during the period. Firethorn Wealth Partners LLC purchased a new position in Altria Group during the first quarter valued at $266,000. Calton & Associates Inc. lifted its position in Altria Group by 13.5% during the first quarter. Calton & Associates Inc. now owns 5,650 shares of the company’s stock valued at $246,000 after buying an additional 671 shares during the period. Pinnacle Bancorp Inc. boosted its holdings in shares of Altria Group by 16.5% during the 1st quarter. Pinnacle Bancorp Inc. now owns 7,759 shares of the company’s stock valued at $338,000 after buying an additional 1,100 shares in the last quarter. Finally, Atlantic Union Bankshares Corp grew its position in shares of Altria Group by 5.7% in the 1st quarter. Atlantic Union Bankshares Corp now owns 63,488 shares of the company’s stock worth $2,769,000 after buying an additional 3,431 shares during the period. Institutional investors own 57.41% of the company’s stock.

Altria Group Company Profile

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.