Altria Group (NYSE:MO) Reaches New 12-Month High - Here's Why

Altria Group, Inc. (NYSE:MO - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $59.78 and last traded at $59.42, with a volume of 2069690 shares. The stock had previously closed at $58.15.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MO. Bank of America upgraded Altria Group from a "neutral" rating to a "buy" rating and raised their price objective for the company from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley decreased their price target on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday, January 31st. UBS Group boosted their price target on Altria Group from $42.00 to $46.00 and gave the stock a "sell" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft downgraded Altria Group from a "buy" rating to a "hold" rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $54.00.

Altria Group Stock Performance

The business has a fifty day moving average of $55.23 and a two-hundred day moving average of $53.65. The firm has a market capitalization of $99.68 billion, a price-to-earnings ratio of 9.00, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. As a group, sell-side analysts predict that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

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Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 6.92%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group's dividend payout ratio is presently 62.29%.

Hedge Funds Weigh In On Altria Group

A number of large investors have recently made changes to their positions in the company. Truvestments Capital LLC increased its position in Altria Group by 4.3% during the 4th quarter. Truvestments Capital LLC now owns 4,581 shares of the company's stock worth $240,000 after buying an additional 190 shares during the period. Enterprise Financial Services Corp grew its stake in shares of Altria Group by 4.0% in the fourth quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company's stock valued at $264,000 after acquiring an additional 194 shares in the last quarter. Horst & Graben Wealth Management LLC increased its position in Altria Group by 1.5% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company's stock worth $681,000 after acquiring an additional 198 shares during the period. Fragasso Financial Advisors Inc raised its stake in Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company's stock worth $330,000 after purchasing an additional 199 shares in the last quarter. Finally, First Citizens Financial Corp boosted its holdings in Altria Group by 4.8% in the 4th quarter. First Citizens Financial Corp now owns 4,402 shares of the company's stock valued at $230,000 after purchasing an additional 200 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.