Altria Group (NYSE:MO) Trading Up 1.4% - Here's What Happened

Altria Group, Inc. (NYSE:MO - Get Free Report) shares were up 1.4% during trading on Wednesday . The company traded as high as $53.30 and last traded at $53.48. Approximately 1,425,926 shares traded hands during trading, a decline of 80% from the average daily volume of 7,111,883 shares. The stock had previously closed at $52.75.

Analyst Upgrades and Downgrades

Several research firms recently commented on MO. StockNews.com upgraded shares of Altria Group from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Bank of America raised shares of Altria Group from a "neutral" rating to a "buy" rating and upped their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Barclays upped their target price on Altria Group from $45.00 to $46.00 and gave the company an "underweight" rating in a research note on Wednesday, November 6th. Morgan Stanley reduced their price objective on shares of Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Altria Group from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, Altria Group has an average rating of "Hold" and a consensus target price of $53.29.

Altria Group Stock Up 1.2 %

The firm has a market cap of $93.22 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 2.84 and a beta of 0.64. The company has a 50-day moving average price of $52.61 and a 200 day moving average price of $52.66.

Altria Group (NYSE:MO - Get Free Report) last posted 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 negative return on equity of 258.72% and a net margin of 46.90%. Equities analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group's payout ratio is presently 62.29%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Financial Life Planners acquired a new stake in Altria Group in the 4th quarter valued at about $25,000. Redwood Park Advisors LLC acquired a new stake in Altria Group during the 4th quarter valued at $26,000. True Wealth Design LLC boosted its position in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company's stock worth $29,000 after purchasing an additional 462 shares during the period. VSM Wealth Advisory LLC acquired a new position in shares of Altria Group in the fourth quarter valued at $29,000. Finally, Marshall Investment Management LLC bought a new position in shares of Altria Group in the fourth quarter valued at about $32,000. 57.41% of the stock is currently owned by institutional investors.

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.