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.
Read Our Latest Analysis on MO
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
(
Get Free Report)
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.
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