Altria Group (NYSE:MO) Trading Down 1.4% – What’s Next?

Altria Group, Inc. (NYSE:MO)’s share price dropped 1.4% during trading on Wednesday . The company traded as low as $50.63 and last traded at $50.75. Approximately 1,914,975 shares were traded during trading, a decline of 70% from the average daily volume of 6,363,190 shares. The stock had previously closed at $51.47.

Analysts Set New Price Targets

Several research analysts have weighed in on MO shares. Morgan Stanley began coverage on Altria Group in a research report on Thursday, January 16th. They set an “equal weight” rating and a $54.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays raised their price target 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. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Finally, StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $53.43.

Altria Group Trading Down 1.3 %

The firm has a market capitalization of $86.09 billion, a price-to-earnings ratio of 8.58, a PEG ratio of 2.72 and a beta of 0.64. The stock’s 50-day moving average is $54.19 and its 200-day moving average is $52.11.

Altria Group (NYSE:MO) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter last year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.13 EPS for the current fiscal year.

Altria Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s dividend payout ratio is presently 68.92%.

Institutional Investors Weigh In On Altria Group

Several large investors have recently modified their holdings of MO. Aviance Capital Partners LLC grew its stake in Altria Group by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after purchasing an additional 191 shares during the period. Delta Investment Management LLC grew its stake in Altria Group by 2.9% in the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after acquiring an additional 198 shares during the period. Fragasso Financial Advisors Inc boosted its position in shares of Altria Group by 3.3% during the fourth 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 position 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 buying an additional 200 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC lifted its stake in Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after acquiring an additional 200 shares in the last quarter. 57.41% of the stock is currently owned by institutional investors and hedge funds.

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.