Altria Group (NYSE:MO) Stock Price Down 0.8% – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s share price fell 0.8% during mid-day trading on Tuesday . The stock traded as low as $52.80 and last traded at $53.04. 2,588,578 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 6,778,399 shares. The stock had previously closed at $53.45.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MO shares. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Citigroup increased their target price 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. Stifel Nicolaus lifted their target price on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Morgan Stanley started coverage on Altria Group in a report on Thursday, January 16th. They issued an “equal weight” rating and a $54.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $53.43.

Altria Group Stock Down 2.0 %

The stock has a market cap of $87.44 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The firm’s 50 day moving average is $53.75 and its two-hundred day moving average is $52.29.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. On average, analysts anticipate that Altria Group, Inc. will post 5.13 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 7.91%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio is currently 68.92%.

Institutional Investors Weigh In On Altria Group

Institutional investors have recently added to or reduced their stakes in the stock. Aviance Capital Partners LLC grew its position in shares of Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after acquiring an additional 191 shares in the last quarter. Horst & Graben Wealth Management LLC raised its holdings in Altria Group by 1.5% during the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock valued at $681,000 after buying an additional 198 shares in the last quarter. Fragasso Financial Advisors Inc grew its holdings in Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after buying an additional 199 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its holdings in Altria Group by 3.5% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after acquiring an additional 200 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC lifted its holdings in shares of Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after acquiring an additional 200 shares during the period. 57.41% of the stock is 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.