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.
View Our Latest Stock Analysis on Altria Group
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
(
Get Free Report)
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.
See Also
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