Altria Group (NYSE:MO) Stock Price Up 0.7% - Here's What Happened

Altria Group, Inc. (NYSE:MO - Get Free Report)'s share price was up 0.7% on Monday . The company traded as high as $57.15 and last traded at $57.04. Approximately 1,651,521 shares were traded during trading, a decline of 82% from the average daily volume of 8,991,948 shares. The stock had previously closed at $56.65.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MO shares. UBS Group lifted their price target on Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a report on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a report on Tuesday, April 1st. Finally, Morgan Stanley reduced their price objective on shares of 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. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $54.00.

Altria Group Trading Up 1.5 %

The stock has a market capitalization of $98.27 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 2.89 and a beta of 0.54. The firm has a 50-day moving average of $56.59 and a 200-day moving average of $54.20.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating 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 anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.02%. Altria Group's dividend payout ratio (DPR) is presently 62.29%.

Institutional Investors Weigh In On Altria Group

Several large investors have recently modified their holdings of MO. Financial Life Planners purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $25,000. Redwood Park Advisors LLC acquired a new position in Altria Group during the fourth quarter valued at approximately $26,000. VSM Wealth Advisory LLC acquired a new position in Altria Group during the fourth quarter valued at approximately $29,000. Marshall Investment Management LLC purchased a new stake in Altria Group during the fourth quarter worth approximately $32,000. Finally, Promus Capital LLC acquired a new stake in shares of Altria Group in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

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.