Altria Group (NYSE:MO) Shares Up 1.3% - What's Next?

Altria Group, Inc. (NYSE:MO - Get Free Report) shares shot up 1.3% during mid-day trading on Monday . The stock traded as high as $56.77 and last traded at $56.56. 1,932,555 shares changed hands during trading, a decline of 74% from the average session volume of 7,444,509 shares. The stock had previously closed at $55.85.

Analysts Set New Price Targets

Several brokerages recently commented on MO. Morgan Stanley decreased 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 report on Friday, January 31st. Barclays raised their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an "underweight" rating in a report on Wednesday, November 6th. Finally, Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $55.00 to $65.00 in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Altria Group currently has a consensus rating of "Hold" and an average price target of $53.29.

Altria Group Trading Down 0.6 %

The firm has a market capitalization of $94.60 billion, a PE ratio of 8.54, a P/E/G ratio of 2.89 and a beta of 0.64. The firm's fifty day moving average price is $52.90 and its 200 day moving average price is $52.99.

Altria Group (NYSE:MO - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS 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%. On average, analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

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

Institutional Investors Weigh In On Altria Group

Hedge funds have recently bought and sold shares of the stock. Financial Life Planners purchased a new stake in Altria Group during the fourth quarter worth $25,000. Redwood Park Advisors LLC purchased a new stake in shares of Altria Group during the 4th quarter worth about $26,000. True Wealth Design LLC grew its position in shares of Altria Group by 420.0% during 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 period. VSM Wealth Advisory LLC acquired a new stake in shares of Altria Group during the 4th quarter valued at about $29,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Altria Group in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 57.41% of the company's stock.

Altria Group Company Profile

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.