Altria Group (NYSE:MO) Shares Down 0.5% – Here’s What Happened

Altria Group, Inc. (NYSE:MO) shares fell 0.5% during mid-day trading on Wednesday . The company traded as low as $55.87 and last traded at $56.03. 1,322,017 shares were traded during mid-day trading, a decline of 83% from the average session volume of 7,731,927 shares. The stock had previously closed at $56.30.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Morgan Stanley reduced their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Two equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Trading Up 1.4 %

The firm’s fifty day moving average is $53.04 and its 200-day moving average is $53.04. The stock has a market capitalization of $97.70 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56.

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

Altria Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be given a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 annualized dividend and a dividend yield of 7.06%. Altria Group’s dividend payout ratio is currently 62.29%.

Institutional Investors Weigh In On Altria Group

Several institutional investors and hedge funds have recently modified their holdings of MO. Financial Life Planners purchased a new stake in Altria Group during the fourth quarter worth about $25,000. Redwood Park Advisors LLC purchased a new stake in Altria Group during the 4th quarter worth approximately $26,000. True Wealth Design LLC increased its stake in Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares during the period. VSM Wealth Advisory LLC acquired a new stake in Altria Group during the 4th quarter worth approximately $29,000. Finally, Marshall Investment Management LLC purchased a new position in Altria Group in the 4th quarter valued at approximately $32,000. Hedge funds and other institutional investors own 57.41% of the company’s stock.

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.