Altria Group (NYSE:MO) Stock Price Up 1.5% - Still a Buy?

Altria Group, Inc. (NYSE:MO - Get Free Report) was up 1.5% during trading on Friday . The stock traded as high as $58.52 and last traded at $58.13. Approximately 8,765,015 shares changed hands during trading, a decline of 3% from the average daily volume of 8,998,560 shares. The stock had previously closed at $57.27.

Analysts Set New Price Targets

MO has been the subject of a number of recent research reports. UBS Group boosted their price target on shares of Altria Group from $42.00 to $46.00 and gave the company a "sell" rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft set a $60.00 price objective on Altria Group in a report on Tuesday, April 1st. Finally, Morgan Stanley lowered their price target on 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. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $54.00.

Altria Group Trading Up 2.2 %

The business has a 50-day moving average price of $56.76 and a 200 day moving average price of $54.36. The stock has a market cap of $99.53 billion, a PE ratio of 8.99, a PEG 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 earnings per share for the quarter, topping analysts' consensus estimates 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, equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 6.93%. The ex-dividend date of this dividend is Tuesday, March 25th. Altria Group's dividend payout ratio is presently 62.29%.

Hedge Funds Weigh In On Altria Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MO. Virtu Financial LLC purchased a new position in Altria Group in the 3rd quarter worth approximately $2,041,000. Wealthquest Corp bought a new position in Altria Group in the third quarter valued at $209,000. Chelsea Counsel Co. lifted its stake in Altria Group by 7.8% during the third quarter. Chelsea Counsel Co. now owns 20,300 shares of the company's stock worth $1,056,000 after purchasing an additional 1,465 shares during the last quarter. Anchor Investment Management LLC increased its position in shares of Altria Group by 35.9% during the 3rd quarter. Anchor Investment Management LLC now owns 13,174 shares of the company's stock valued at $672,000 after purchasing an additional 3,478 shares during the last quarter. Finally, Stock Yards Bank & Trust Co. lifted its position in Altria Group by 0.9% in the 3rd quarter. Stock Yards Bank & Trust Co. now owns 82,445 shares of the company's stock worth $4,208,000 after buying an additional 730 shares during the last quarter. 57.41% of the stock is currently 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.