Altria Group (NYSE:MO) Trading 0.7% Higher - Still a Buy?

Altria Group, Inc. (NYSE:MO - Get Free Report) shares were up 0.7% during trading on Wednesday . The company traded as high as $50.33 and last traded at $50.30. Approximately 3,251,851 shares traded hands during trading, a decline of 67% from the average daily volume of 9,788,364 shares. The stock had previously closed at $49.95.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Altria Group from a "buy" rating to a "hold" rating in a report on Tuesday, October 8th. Bank of America cut their price target on shares of Altria Group from $57.00 to $53.00 and set a "neutral" rating on the stock in a report on Tuesday, October 15th. Citigroup raised their target price on shares of Altria Group from $44.50 to $48.00 and gave the company a "neutral" rating in a research note on Tuesday, October 8th. UBS Group increased their price target on Altria Group from $39.00 to $41.00 and gave the company a "sell" rating in a report on Monday, September 9th. Finally, Barclays raised their target price on Altria Group from $43.00 to $45.00 and gave the company an "underweight" rating in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $48.20.

Altria Group Stock Up 1.0 %

The business has a 50 day simple moving average of $51.37 and a 200-day simple moving average of $48.23. The company has a market capitalization of $86.67 billion, a P/E ratio of 10.52, a PEG ratio of 2.89 and a beta of 0.65.

Altria Group (NYSE:MO - Get Free Report) last announced its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The company had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the company earned $1.31 EPS. The business's quarterly revenue was up 14.2% on a year-over-year basis. Equities analysts forecast that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Altria Group's previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a dividend yield of 8.09%. Altria Group's dividend payout ratio (DPR) is currently 85.36%.

Institutional Trading of Altria Group

Several large investors have recently added to or reduced their stakes in MO. BNP Paribas acquired a new stake in shares of Altria Group in the first quarter worth $27,000. MFA Wealth Advisors LLC acquired a new stake in Altria Group in the 2nd quarter worth $27,000. Hobbs Group Advisors LLC acquired a new position in shares of Altria Group during the second quarter valued at about $30,000. Valley Wealth Managers Inc. grew its position in Altria Group by 63.9% during the second quarter. Valley Wealth Managers Inc. now owns 667 shares of the company's stock worth $30,000 after buying an additional 260 shares in the last quarter. Finally, Lynx Investment Advisory bought a new position in Altria Group during the second quarter valued at about $44,000. 57.41% of the stock is owned by institutional investors and hedge funds.

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.

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