Altria Group (NYSE:MO) Shares Down 1% - Here's Why

Altria Group, Inc. (NYSE:MO - Get Free Report)'s share price dropped 1% during mid-day trading on Tuesday . The company traded as low as $59.34 and last traded at $59.42. Approximately 2,401,033 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 8,857,317 shares. The stock had previously closed at $60.02.

Analyst Ratings Changes

MO has been the topic of several recent analyst reports. Bank of America upgraded shares of Altria Group from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley lowered their price target on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research report on Friday, January 31st. UBS Group lifted their price objective on Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered Altria Group from a "buy" rating to a "hold" rating in a research note 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $54.00.

Altria Group Stock Down 3.2 %

The firm has a market cap of $94.77 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The business has a 50-day moving average price of $55.64 and a two-hundred day moving average price of $53.75.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, equities research analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be paid a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.28%. Altria Group's dividend payout ratio is currently 62.29%.

Institutional Investors Weigh In On Altria Group

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