Altria Group (NYSE:MO) Trading 1.5% Higher – Here’s Why

Altria Group, Inc. (NYSE:MO)’s share price was up 1.5% during mid-day trading on Wednesday . The company traded as high as $57.52 and last traded at $57.58. Approximately 1,590,909 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 8,474,887 shares. The stock had previously closed at $56.71.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley cut their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $53.29.

Altria Group Trading Up 1.7 %

The firm has a market cap of $97.49 billion, a P/E ratio of 8.80, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The stock’s fifty day moving average is $54.66 and its two-hundred day moving average is $53.51.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. On average, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a dividend yield of 7.08%. The ex-dividend date is Tuesday, March 25th. Altria Group’s payout ratio is 62.29%.

Institutional Investors Weigh In On Altria Group

A number of institutional investors and hedge funds have recently bought and sold shares of MO. Financial Life Planners purchased a new stake in shares of Altria Group during the 4th quarter valued at $25,000. Redwood Park Advisors LLC bought a new position in Altria Group during the fourth quarter valued at approximately $26,000. True Wealth Design LLC raised its stake 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 acquiring an additional 462 shares in the last quarter. VSM Wealth Advisory LLC purchased a new stake in shares of Altria Group in the 4th quarter valued at $29,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Altria Group in the 4th quarter valued at $32,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

Altria Group Company Profile

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.