Altria Group (NYSE:MO) Shares Down 1% – Here’s Why

Altria Group, Inc. (NYSE:MO)’s stock price dropped 1% during mid-day trading on Tuesday . The company traded as low as $67.72 and last traded at $68.18. Approximately 10,733,784 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 9,286,592 shares. The stock had previously closed at $68.88.

Analysts Set New Price Targets

Several research firms have weighed in on MO. BTIG Research began coverage on Altria Group in a report on Tuesday, July 21st. They set a “neutral” rating on the stock. Barclays lowered their price objective on Altria Group from $64.00 to $58.00 and set an “underweight” rating on the stock in a report on Tuesday, August 11th. Jefferies Financial Group raised their price objective on Altria Group from $50.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, May 27th. Weiss Ratings restated a “buy (b)” rating on shares of Altria Group in a report on Tuesday, July 14th. Finally, Wall Street Zen cut Altria Group from a “buy” rating to a “hold” rating in a research report on Sunday, June 21st. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Altria Group has an average rating of “Hold” and an average price target of $70.11.

Altria Group Trading Up 1.2%

The stock has a market cap of $114.77 billion, a P/E ratio of 14.50, a P/E/G ratio of 2.42 and a beta of 0.45. The firm’s fifty day moving average is $69.56 and its 200 day moving average is $69.10.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.02). Altria Group had a net margin of 33.99% and a negative return on equity of 315.29%. The business had revenue of $5.36 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Altria Group has set its FY 2026 guidance at 5.610-5.720 EPS. Research analysts forecast that Altria Group, Inc. will post 5.67 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Tuesday, September 15th will be given a $1.11 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.44 annualized dividend and a yield of 6.5%. This is an increase from Altria Group’s previous quarterly dividend of $1.06. Altria Group’s dividend payout ratio (DPR) is presently 89.45%.

Institutional Investors Weigh In On Altria Group

Several hedge funds have recently modified their holdings of the business. Brighton Jones LLC raised its stake in Altria Group by 64.7% during the 4th quarter. Brighton Jones LLC now owns 17,702 shares of the company’s stock valued at $926,000 after purchasing an additional 6,954 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Altria Group by 86.3% during the 2nd quarter. Sivia Capital Partners LLC now owns 6,361 shares of the company’s stock worth $373,000 after purchasing an additional 2,946 shares during the period. Schnieders Capital Management LLC. raised its position in shares of Altria Group by 6.9% during the second quarter. Schnieders Capital Management LLC. now owns 9,630 shares of the company’s stock valued at $565,000 after buying an additional 618 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Altria Group during the second quarter valued at about $346,000. Finally, AXA S.A. acquired a new position in shares of Altria Group during the second quarter valued at about $5,752,000. 57.41% of the stock is owned by institutional investors.

About Altria Group

Altria Group, Inc (NYSE: MO) is a tobacco and nicotine company headquartered in Richmond, Virginia. Through its operating companies, Altria develops, manufactures and markets cigarettes, cigars, oral tobacco products, nicotine pouches and electronic vaping products, with its business focused primarily on the United States.

Altria’s smokeable products portfolio includes Marlboro cigarettes, which are manufactured and marketed in the U.S. by Philip Morris USA, as well as Black & Mild cigars through John Middleton.