Altria Group (NYSE:MO) Trading 1.1% Higher - Here's What Happened

Altria Group, Inc. (NYSE:MO - Get Free Report) shares rose 1.1% during mid-day trading on Tuesday . The company traded as high as $58.59 and last traded at $57.96. Approximately 3,818,964 shares were traded during trading, a decline of 49% from the average daily volume of 7,549,528 shares. The stock had previously closed at $57.31.

Analysts Set New Price Targets

MO has been the subject of a number of research reports. Morgan Stanley cut their target price on shares of 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. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Finally, Barclays increased their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an "underweight" rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Altria Group currently has a consensus rating of "Hold" and an average price target of $53.29.

Altria Group Price Performance

The firm's fifty day simple moving average is $52.95 and its 200 day simple moving average is $53.01. The company has a market capitalization of $94.60 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 2.89 and a beta of 0.64.

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 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%. Equities research analysts forecast that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.29%. Altria Group's dividend payout ratio is currently 62.29%.

Institutional Investors Weigh In On Altria Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Financial Life Planners bought a new stake in Altria Group during the 4th quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in shares of Altria Group in the 4th quarter valued at about $26,000. True Wealth Design LLC increased its stake in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company's stock valued at $29,000 after acquiring an additional 462 shares during the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Altria Group in the 4th quarter valued at about $29,000. Finally, Marshall Investment Management LLC bought a new stake in shares of Altria Group in the 4th quarter valued at about $32,000. Institutional investors and hedge funds 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.