Altria Group (NYSE:MO) Stock Price Up 1.5% - Time to Buy?

Altria Group, Inc. (NYSE:MO - Get Free Report) traded up 1.5% during trading on Monday . The company traded as high as $52.01 and last traded at $51.92. 6,528,941 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 6,772,463 shares. The stock had previously closed at $51.16.

Wall Street Analysts Forecast Growth

MO has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Altria Group from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Citigroup raised their price objective 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. Morgan Stanley began coverage on Altria Group in a report on Thursday. They set an "equal weight" rating and a $54.00 price target for the company. Stifel Nicolaus upped their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, StockNews.com raised Altria Group from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Two equities 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. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $53.43.

Altria Group Stock Performance

The company has a fifty day moving average price of $54.29 and a 200-day moving average price of $52.03. The firm has a market capitalization of $87.99 billion, a PE ratio of 8.77, a PEG ratio of 2.69 and a beta of 0.64.

Altria Group (NYSE:MO - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.35 by $0.03. The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The business's revenue was up 18.6% on a year-over-year basis. During the same period last year, the company posted $1.28 EPS. On average, equities analysts predict that Altria Group, Inc. will post 5.12 earnings per share for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.86%. The ex-dividend date was Thursday, December 26th. Altria Group's dividend payout ratio (DPR) is 68.92%.

Hedge Funds Weigh In On Altria Group

Several hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in shares of 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 last quarter. Legacy Investment Solutions LLC purchased a new position in Altria Group in the 3rd quarter worth about $34,000. Peterson Financial Group Inc. bought a new stake in Altria Group during the 3rd quarter valued at about $41,000. Fairman Group LLC boosted its position 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 buying an additional 410 shares during the period. Finally, IFS Advisors LLC grew its stake in Altria Group by 330.4% in the 4th quarter. IFS Advisors LLC now owns 977 shares of the company's stock worth $51,000 after acquiring an additional 750 shares in the last quarter. 57.41% of the stock is currently owned by 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.