Altria Group (NYSE:MO) Stock Price Down 0.1% - Here's What Happened

Shares of Altria Group, Inc. (NYSE:MO - Get Free Report) dropped 0.1% during trading on Thursday . The stock traded as low as $57.77 and last traded at $57.92. Approximately 1,505,243 shares were traded during trading, a decline of 82% from the average daily volume of 8,564,415 shares. The stock had previously closed at $57.95.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MO shares. Bank of America upgraded shares of Altria Group from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley decreased their target price on Altria Group from $54.00 to $53.00 and set an "equal weight" rating on the stock in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Altria Group currently has an average rating of "Hold" and a consensus target price of $53.29.

Altria Group Price Performance

The firm has a market cap of $97.38 billion, a PE ratio of 8.79, a P/E/G ratio of 2.89 and a beta of 0.56. The business has a fifty day moving average price of $54.42 and a two-hundred day moving average price of $53.46.

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, beating analysts' consensus estimates of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. As a group, sell-side analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

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Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date is Tuesday, March 25th. Altria Group's dividend payout ratio (DPR) is presently 62.29%.

Institutional Trading of Altria Group

Institutional investors have recently bought and sold shares of the company. Segall Bryant & Hamill LLC bought a new stake in Altria Group in the third quarter worth approximately $2,183,000. Nwam LLC lifted its position in shares of Altria Group by 16.8% in the third quarter. Nwam LLC now owns 13,355 shares of the company's stock worth $682,000 after buying an additional 1,925 shares during the last quarter. Great Valley Advisor Group Inc. boosted its stake in shares of Altria Group by 2.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 151,772 shares of the company's stock worth $7,747,000 after acquiring an additional 4,179 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Altria Group by 14.6% during the 3rd quarter. Cerity Partners LLC now owns 422,112 shares of the company's stock worth $21,553,000 after acquiring an additional 53,832 shares in the last quarter. Finally, StoneX Group Inc. increased its holdings in shares of Altria Group by 4.1% during the 3rd quarter. StoneX Group Inc. now owns 15,879 shares of the company's stock valued at $827,000 after acquiring an additional 631 shares during the last quarter. Institutional investors and hedge funds 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.