Altria Group (NYSE:MO) Stock Price Up 1.2% on Better-Than-Expected Earnings

Altria Group, Inc. (NYSE:MO - Get Free Report) traded up 1.2% during trading on Friday following a stronger than expected earnings report. The stock traded as high as $52.17 and last traded at $52.14. 1,514,157 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 7,509,943 shares. The stock had previously closed at $51.54.

The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%.

Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.82%. The ex-dividend date was Thursday, December 26th. Altria Group's payout ratio is presently 62.29%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MO. Morgan Stanley cut their price target on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a research note on Friday. StockNews.com raised Altria Group from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Barclays raised their price target on shares of Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a research report on Wednesday, November 6th. Finally, Citigroup upped their price objective on shares of Altria Group from $44.50 to $48.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Altria Group presently has an average rating of "Hold" and an average target price of $53.29.

Institutional Trading of Altria Group

A number of large investors have recently added to or reduced their stakes in the stock. Financial Life Planners purchased a new stake in shares of Altria Group during the 4th quarter worth approximately $25,000. True Wealth Design LLC increased its position in Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company's stock worth $29,000 after buying an additional 462 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of Altria Group in the third quarter valued at $34,000. Kestra Investment Management LLC purchased a new position in shares of Altria Group during the 4th quarter valued at $40,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Altria Group during the 3rd quarter worth $41,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Stock Performance

The firm has a 50 day moving average price of $53.66 and a two-hundred day moving average price of $52.29. The company has a market cap of $88.46 billion, a P/E ratio of 8.82, a P/E/G ratio of 2.76 and a beta of 0.64.

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.