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

Altria Group, Inc. (NYSE:MO - Get Free Report) shares hit a new 52-week high during trading on Friday . The stock traded as high as $56.64 and last traded at $56.38, with a volume of 952667 shares trading hands. The stock had previously closed at $56.03.

Analyst Ratings Changes

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

Altria Group Stock Up 1.3 %

The business's 50 day moving average is $51.87 and its 200 day moving average is $49.65. The company has a market cap of $96.16 billion, a P/E ratio of 9.58, a P/E/G ratio of 3.18 and a beta of 0.64.

Altria Group (NYSE:MO - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.03. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business's quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 earnings per share. As a group, equities research analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current year.

Institutional Investors Weigh In On Altria Group

Several hedge funds have recently added to or reduced their stakes in MO. Stock Yards Bank & Trust Co. raised its position in shares of Altria Group by 0.9% in the third quarter. Stock Yards Bank & Trust Co. now owns 82,445 shares of the company's stock worth $4,208,000 after acquiring an additional 730 shares during the period. Anchor Investment Management LLC raised its position in shares of Altria Group by 35.9% during the 3rd quarter. Anchor Investment Management LLC now owns 13,174 shares of the company's stock worth $672,000 after purchasing an additional 3,478 shares during the last quarter. Chelsea Counsel Co. raised its position in shares of Altria Group by 7.8% during the 3rd quarter. Chelsea Counsel Co. now owns 20,300 shares of the company's stock worth $1,056,000 after purchasing an additional 1,465 shares during the last quarter. Wealthquest Corp acquired a new position in shares of Altria Group during the 3rd quarter worth about $209,000. Finally, Virtu Financial LLC acquired a new position in shares of Altria Group during the 3rd quarter worth about $2,041,000. 57.41% of the stock is owned by hedge funds and other 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.