Altria Group (NYSE:MO) Stock Price Down 0.5% - Here's Why

Altria Group, Inc. (NYSE:MO - Get Free Report) shares fell 0.5% during trading on Wednesday . The company traded as low as $50.95 and last traded at $51.22. 1,847,205 shares traded hands during trading, a decline of 62% from the average session volume of 4,873,937 shares. The stock had previously closed at $51.46.

Analysts Set New Price Targets

MO has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Altria Group from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Citigroup increased their price target on shares of Altria Group from $44.50 to $48.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. Bank of America upgraded shares of Altria Group from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $55.00 to $65.00 in a research note on Friday, December 6th. StockNews.com upgraded shares of Altria Group from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Finally, Barclays raised their target price 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. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Altria Group presently has a consensus rating of "Hold" and a consensus price target of $53.33.

Altria Group Stock Performance

The firm's fifty day moving average price is $54.68 and its two-hundred day moving average price is $51.73. The stock has a market capitalization of $87.22 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 3.03 and a beta of 0.64.

Altria Group (NYSE:MO - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $5.33 billion. During the same quarter in the previous year, the company earned $1.28 earnings per share. The firm's revenue for the quarter was up 18.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Altria Group, Inc. will post 5.12 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Thursday, December 26th will be given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date of this dividend is Thursday, December 26th. Altria Group's dividend payout ratio (DPR) is presently 68.92%.

Hedge Funds Weigh In On Altria Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC raised its stake in 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 purchasing an additional 462 shares during the last quarter. Valley Wealth Managers Inc. raised its position in shares of Altria Group by 63.9% in the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company's stock valued at $30,000 after buying an additional 260 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of Altria Group in the third quarter worth about $34,000. Peterson Financial Group Inc. acquired a new position in Altria Group during the third quarter worth about $41,000. Finally, Fairman Group LLC raised its holdings in Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company's stock valued at $46,000 after acquiring an additional 410 shares during the last quarter. 57.41% of the stock is owned by hedge funds and other institutional investors.

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.