Altria Group (NYSE:MO) Stock Price Up 1.7% - Still a Buy?

Altria Group, Inc. (NYSE:MO - Get Free Report)'s share price was up 1.7% on Tuesday . The company traded as high as $56.97 and last traded at $56.59. Approximately 2,331,113 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 8,947,388 shares. The stock had previously closed at $55.66.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group boosted their price objective on Altria Group from $42.00 to $46.00 and gave the stock a "sell" rating in a research note on Tuesday, April 1st. Deutsche Bank Aktiengesellschaft set a $60.00 price target on Altria Group in a research report on Tuesday, April 1st. Finally, Morgan Stanley cut their price target on Altria Group from $54.00 to $53.00 and set an "equal weight" rating for the company in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $54.00.

Altria Group Trading Up 0.5 %

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

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

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Altria Group Announces Dividend

The business 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. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 7.20%. Altria Group's payout ratio is currently 62.29%.

Hedge Funds Weigh In On Altria Group

Large investors have recently made changes to their positions in the stock. Lake Hills Wealth Management LLC acquired a new position in Altria Group during the first quarter worth $279,000. Princeton Global Asset Management LLC raised its holdings in shares of Altria Group by 28.1% in 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 period. Intergy Private Wealth LLC raised its holdings in shares of Altria Group by 11.4% in 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 lifted its stake in Altria Group by 13.4% during the 1st quarter. Gateway Investment Advisers LLC now owns 127,641 shares of the company's stock worth $7,661,000 after acquiring an additional 15,071 shares in the last quarter. Finally, Procyon Advisors LLC boosted its holdings in Altria Group by 10.7% during the 1st quarter. Procyon Advisors LLC now owns 11,694 shares of the company's stock valued at $702,000 after acquiring an additional 1,134 shares during the period. 57.41% of the stock is currently owned by institutional investors and hedge funds.

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.