Altria Group (NYSE:MO) Stock Price Down 0.2% - Here's What Happened

Altria Group, Inc. (NYSE:MO - Get Free Report) shares traded down 0.2% during mid-day trading on Wednesday . The company traded as low as $54.94 and last traded at $55.42. 3,426,281 shares were traded during mid-day trading, a decline of 62% from the average session volume of 8,963,389 shares. The stock had previously closed at $55.56.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MO shares. Deutsche Bank Aktiengesellschaft set a $60.00 target price on shares of Altria Group in a report on Tuesday, April 1st. UBS Group boosted their price objective on shares of Altria Group from $42.00 to $46.00 and gave the stock a "sell" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley decreased 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 note on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $54.00.

Altria Group Price Performance

The firm's 50 day moving average price is $56.22 and its 200-day moving average price is $54.04. The stock has a market cap of $95.83 billion, a P/E ratio of 8.65, a P/E/G ratio of 2.89 and a beta of 0.54.

Altria Group (NYSE:MO - Get Free Report) last issued its 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 negative return on equity of 258.72% and a net margin of 46.90%. On average, analysts expect that Altria Group, Inc. will post 5.32 earnings per share for the current year.

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Altria Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.20%. The ex-dividend date is Tuesday, March 25th. Altria Group's dividend payout ratio (DPR) is 62.29%.

Institutional Trading of Altria Group

Institutional investors have recently made changes to their positions in the stock. Lake Hills Wealth Management LLC bought a new position in Altria Group during the first quarter valued at approximately $279,000. Princeton Global Asset Management LLC raised its stake in Altria Group by 28.1% during the 1st quarter. Princeton Global Asset Management LLC now owns 7,250 shares of the company's stock valued at $435,000 after buying an additional 1,589 shares during the last quarter. Intergy Private Wealth LLC lifted its holdings in shares of Altria Group by 11.4% during the 1st quarter. Intergy Private Wealth LLC now owns 4,476 shares of the company's stock valued at $269,000 after buying an additional 459 shares during the period. Gateway Investment Advisers LLC boosted its stake in shares of Altria Group by 13.4% in the 1st quarter. Gateway Investment Advisers LLC now owns 127,641 shares of the company's stock worth $7,661,000 after buying an additional 15,071 shares during the last quarter. Finally, Procyon Advisors LLC grew its holdings in shares of Altria Group by 10.7% in the first quarter. Procyon Advisors LLC now owns 11,694 shares of the company's stock worth $702,000 after acquiring an additional 1,134 shares during the period. 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.