Altria Group (NYSE:MO) Stock Price Up 0.4%

Altria Group, Inc. (NYSE:MO) shares rose 0.4% during trading on Friday . The stock traded as high as $52.92 and last traded at $52.83. Approximately 1,156,920 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 10,198,239 shares. The stock had previously closed at $52.64.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. UBS Group boosted their price target on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday. Argus upgraded shares of Altria Group to a “hold” rating in a research report on Friday, May 31st. Bank of America boosted their target price on Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus raised their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $49.67.

Altria Group Stock Performance

The company’s fifty day moving average price is $50.75 and its 200-day moving average price is $46.33. The stock has a market cap of $90.02 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the previous year, the company earned $1.31 earnings per share. Altria Group’s revenue was up 14.2% on a year-over-year basis. Analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be given a $1.02 dividend. The ex-dividend date is Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 dividend on an annualized basis and a yield of 7.73%. Altria Group’s payout ratio is 82.01%.

Institutional Investors Weigh In On Altria Group

A number of large investors have recently added to or reduced their stakes in MO. Delta Investment Management LLC raised its position in Altria Group by 2.9% during the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after acquiring an additional 198 shares during the period. Scarborough Advisors LLC raised its position in Altria Group by 18.5% in the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after acquiring an additional 200 shares in the last quarter. Hollencrest Capital Management raised its stake in shares of Altria Group by 0.3% during the 2nd quarter. Hollencrest Capital Management now owns 76,595 shares of the company’s stock worth $3,489,000 after buying an additional 203 shares during the last quarter. SP Asset Management LLC boosted its stake in shares of Altria Group by 2.5% during the second quarter. SP Asset Management LLC now owns 8,211 shares of the company’s stock valued at $374,000 after acquiring an additional 204 shares during the last quarter. Finally, Certuity LLC grew its holdings in Altria Group by 1.6% in the 2nd quarter. Certuity LLC now owns 13,664 shares of the company’s stock valued at $622,000 after buying an additional 213 shares during the period. 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.