Altria Group (NYSE:MO) Shares Down 1.1% – Here’s Why

Altria Group, Inc. (NYSE:MO) shares were down 1.1% during trading on Friday . The stock traded as low as $64.08 and last traded at $64.2130. Approximately 9,401,727 shares changed hands during trading, a decline of 6% from the average daily volume of 10,025,398 shares. The stock had previously closed at $64.94.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MO shares. UBS Group increased their price target on shares of Altria Group from $67.00 to $74.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Jefferies Financial Group upped their price objective on shares of Altria Group from $47.00 to $50.00 and gave the stock an “underperform” rating in a report on Wednesday, March 4th. Argus raised shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Citigroup upped their price objective on shares of Altria Group from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Finally, Stifel Nicolaus decreased their price objective on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $65.88.

Altria Group Trading Down 1.1%

The company’s fifty day moving average is $66.61 and its 200-day moving average is $62.63. The firm has a market capitalization of $107.32 billion, a P/E ratio of 15.62, a P/E/G ratio of 2.58 and a beta of 0.41.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.02 billion. During the same period in the prior year, the company posted $1.30 earnings per share. Altria Group’s quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, March 25th will be issued a $1.06 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $4.24 dividend on an annualized basis and a yield of 6.6%. Altria Group’s dividend payout ratio is 103.16%.

Insiders Place Their Bets

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the sale, the senior vice president directly owned 180,869 shares of the company’s stock, valued at $12,221,318.33. This represents a 13.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by company insiders.

Institutional Trading of Altria Group

A number of hedge funds have recently bought and sold shares of the stock. Johnson & White Wealth Management LLC boosted its holdings in Altria Group by 1.2% in the 4th quarter. Johnson & White Wealth Management LLC now owns 12,704 shares of the company’s stock valued at $733,000 after purchasing an additional 154 shares during the period. Kercheville Advisors LLC boosted its holdings in Altria Group by 3.7% in the 3rd quarter. Kercheville Advisors LLC now owns 4,397 shares of the company’s stock valued at $290,000 after purchasing an additional 156 shares during the period. Kanawha Capital Management LLC boosted its holdings in Altria Group by 0.8% in the 4th quarter. Kanawha Capital Management LLC now owns 19,546 shares of the company’s stock valued at $1,127,000 after purchasing an additional 160 shares during the period. Strategic Advisors LLC lifted its holdings in shares of Altria Group by 2.0% during the 4th quarter. Strategic Advisors LLC now owns 8,243 shares of the company’s stock worth $475,000 after acquiring an additional 160 shares during the period. Finally, Acorn Wealth Advisors LLC lifted its holdings in shares of Altria Group by 1.6% during the 4th quarter. Acorn Wealth Advisors LLC now owns 10,117 shares of the company’s stock worth $583,000 after acquiring an additional 163 shares during the period. 57.41% of the stock is owned by institutional investors.

About Altria Group

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.