Altria Group (NYSE:MO) Trading 1.4% Higher – Here’s Why

Altria Group, Inc. (NYSE:MO)’s stock price rose 1.4% on Wednesday . The company traded as high as $53.30 and last traded at $53.48. Approximately 1,425,926 shares traded hands during trading, a decline of 80% from the average daily volume of 7,111,883 shares. The stock had previously closed at $52.75.

Analyst Upgrades and Downgrades

MO has been the subject of several analyst reports. 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 report on Wednesday, November 6th. Stifel Nicolaus lifted their target price on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Morgan Stanley cut their price target on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $53.29.

Altria Group Price Performance

The stock has a market cap of $93.22 billion, a price-to-earnings ratio of 8.40, a price-to-earnings-growth ratio of 2.84 and a beta of 0.64. The firm’s fifty day moving average price is $52.61 and its two-hundred day moving average price is $52.66.

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

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Thursday, December 26th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.42%. The ex-dividend date was Thursday, December 26th. Altria Group’s payout ratio is currently 62.29%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Financial Life Planners acquired a new stake in shares of Altria Group in the 4th quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in Altria Group during the 4th quarter worth approximately $26,000. True Wealth Design LLC raised its stake in shares of Altria Group by 420.0% in the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares during the last quarter. VSM Wealth Advisory LLC bought a new position in shares of Altria Group in the fourth quarter valued at approximately $29,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Altria Group during the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

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.