Altria Group (NYSE:MO) Stock Price Up 1.1% – Here’s Why

Altria Group, Inc. (NYSE:MO)’s share price rose 1.1% during mid-day trading on Wednesday . The company traded as high as $55.13 and last traded at $55.05. Approximately 1,553,347 shares were traded during trading, a decline of 84% from the average daily volume of 9,772,687 shares. The stock had previously closed at $54.44.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MO. Citigroup boosted their target price on shares of Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Barclays increased their price objective on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus boosted their target price on Altria Group from $54.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Bank of America reduced their price objective on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, UBS Group upped their target price on Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Altria Group presently has a consensus rating of “Hold” and an average target price of $51.33.

Altria Group Stock Up 1.4 %

The stock’s 50 day moving average is $51.51 and its 200-day moving average is $49.05. The company has a market cap of $93.59 billion, a PE ratio of 9.32, a P/E/G ratio of 3.10 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.28 earnings per share. On average, analysts anticipate 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. Investors of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date was Monday, September 16th. This represents a $4.08 dividend on an annualized basis and a yield of 7.39%. This is an increase from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is presently 68.92%.

Hedge Funds Weigh In On Altria Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in shares of Altria Group by 15.3% during the third quarter. CWM LLC now owns 305,704 shares of the company’s stock worth $15,603,000 after purchasing an additional 40,574 shares in the last quarter. Regal Investment Advisors LLC boosted its holdings in Altria Group by 4.2% during the 2nd quarter. Regal Investment Advisors LLC now owns 251,933 shares of the company’s stock valued at $11,476,000 after acquiring an additional 10,079 shares during the period. Commonwealth Equity Services LLC increased its stake in Altria Group by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 1,456,308 shares of the company’s stock worth $74,330,000 after purchasing an additional 32,318 shares during the period. Atomi Financial Group Inc. lifted its position in shares of Altria Group by 7.2% during the first quarter. Atomi Financial Group Inc. now owns 5,953 shares of the company’s stock worth $260,000 after purchasing an additional 399 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Altria Group by 729.8% in the third quarter. Los Angeles Capital Management LLC now owns 1,969,262 shares of the company’s stock valued at $100,511,000 after purchasing an additional 1,731,932 shares in the last quarter. 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.