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

Shares of Altria Group, Inc. (NYSE:MO) reached a new 52-week high on Tuesday . The company traded as high as $76.17 and last traded at $76.4750, with a volume of 1314909 shares trading hands. The stock had previously closed at $72.89.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on MO shares. UBS Group raised their target price on shares of Altria Group from $76.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. BTIG Research started coverage on Altria Group in a report on Tuesday, July 21st. They set a “neutral” rating on the stock. Stifel Nicolaus increased their price objective on shares of Altria Group from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday, May 1st. Barclays boosted their target price on shares of Altria Group from $63.00 to $64.00 and gave the stock an “underweight” rating in a report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Altria Group from $60.00 to $66.00 and gave the company a “hold” rating in a research note on Monday, May 4th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.78.

Altria Group Trading Up 0.3%

The firm’s 50-day moving average price is $71.95 and its 200-day moving average price is $68.23. The stock has a market capitalization of $125.30 billion, a PE ratio of 15.70, a PEG ratio of 2.70 and a beta of 0.45.

Altria Group (NYSE:MO) last announced its earnings results on Thursday, April 30th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. Altria Group had a negative return on equity of 298.69% and a net margin of 34.34%.The firm had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.58 billion. During the same quarter in the previous year, the business earned $1.23 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities research analysts predict that Altria Group, Inc. will post 5.7 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Monday, June 15th were given a dividend of $1.06 per share. The ex-dividend date was Monday, June 15th. This represents a $4.24 dividend on an annualized basis and a yield of 5.7%. Altria Group’s payout ratio is 88.70%.

Insider Buying and Selling at Altria Group

In other news, Director Ellen R. Strahlman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $72.56, for a total value of $145,120.00. Following the completion of the sale, the director owned 25,102 shares in the company, valued at approximately $1,821,401.12. This trade represents a 7.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ennis Debra J. Kelly sold 5,790 shares of Altria Group stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $72.25, for a total transaction of $418,327.50. Following the transaction, the director directly owned 73,809 shares of the company’s stock, valued at approximately $5,332,700.25. This represents a 7.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On Altria Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Darwin Wealth Management LLC purchased a new position in Altria Group during the 2nd quarter valued at about $27,000. Navalign LLC purchased a new stake in shares of Altria Group in the 4th quarter worth approximately $28,000. Creative Capital Management Investments LLC bought a new position in shares of Altria Group during the fourth quarter valued at approximately $29,000. Hughes Financial Services LLC boosted its stake in shares of Altria Group by 62.9% during the fourth quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock valued at $29,000 after purchasing an additional 197 shares in the last quarter. Finally, Miller Capital Partners Inc. purchased a new position in Altria Group during the fourth quarter valued at approximately $29,000. Institutional investors own 57.41% of the company’s stock.

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.