Altria Group (NYSE:MO) Sets New 12-Month High – What’s Next?

Shares of Altria Group, Inc. (NYSE:MO) reached a new 52-week high on Tuesday . The stock traded as high as $58.59 and last traded at $57.83, with a volume of 807588 shares traded. The stock had previously closed at $57.31.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MO shares. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their price target for the stock from $55.00 to $65.00 in a report on Friday, December 6th. Morgan Stanley reduced their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Finally, Barclays increased their target price on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Two 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 company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $53.29.

Altria Group Stock Performance

The stock’s 50 day simple moving average is $52.84 and its 200 day simple moving average is $52.96. The firm has a market cap of $98.15 billion, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 2.89 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings data 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, analysts forecast that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, March 25th will be issued a $1.02 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.03%. Altria Group’s dividend payout ratio is presently 62.29%.

Institutional Investors Weigh In On Altria Group

Several institutional investors have recently bought and sold shares of the stock. Financial Advocates Investment Management purchased a new position in Altria Group during the 3rd quarter worth $209,000. Gladstone Institutional Advisory LLC lifted its position in shares of Altria Group by 9.6% during the third quarter. Gladstone Institutional Advisory LLC now owns 11,421 shares of the company’s stock valued at $583,000 after purchasing an additional 999 shares in the last quarter. Chicago Partners Investment Group LLC boosted its holdings in Altria Group by 21.4% during the third quarter. Chicago Partners Investment Group LLC now owns 14,090 shares of the company’s stock worth $702,000 after purchasing an additional 2,485 shares during the last quarter. Pure Financial Advisors LLC grew its position in Altria Group by 122.1% in the 3rd quarter. Pure Financial Advisors LLC now owns 16,652 shares of the company’s stock worth $850,000 after purchasing an additional 9,155 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in Altria Group by 5.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 25,664 shares of the company’s stock valued at $1,310,000 after buying an additional 1,321 shares during the last quarter. Institutional investors 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.