Altria Group (NYSE:MO) Shares Down 3% – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s stock price dropped 3% on Thursday . The stock traded as low as $50.08 and last traded at $51.08. Approximately 6,063,273 shares were traded during trading, a decline of 16% from the average daily volume of 7,257,009 shares. The stock had previously closed at $52.66.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MO shares. Barclays upped their target price on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America raised Altria Group from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Stifel Nicolaus upped their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Morgan Stanley started coverage on Altria Group in a research note on Thursday, January 16th. They issued an “equal weight” rating and a $54.00 price target for the company. 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 stock. According to data from MarketBeat, Altria Group currently has a consensus rating of “Hold” and an average target price of $53.43.

Altria Group Stock Performance

The stock has a 50 day moving average of $53.75 and a two-hundred day moving average of $52.29. The firm has a market capitalization of $87.44 billion, a P/E ratio of 8.72, a P/E/G ratio of 2.67 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 for the quarter, topping analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. Sell-side analysts predict that Altria Group, Inc. will post 5.13 EPS for the current year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Thursday, December 26th were paid a $1.02 dividend. The ex-dividend date was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 7.91%. Altria Group’s payout ratio is presently 68.92%.

Institutional Investors Weigh In On Altria Group

Several hedge funds have recently modified their holdings of MO. Financial Life Planners acquired a new stake in Altria Group in the 4th quarter worth $25,000. True Wealth Design LLC grew its position in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after buying an additional 462 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in Altria Group during the third quarter valued at about $34,000. Peterson Financial Group Inc. acquired a new position in Altria Group in the 3rd quarter valued at approximately $41,000. Finally, Fairman Group LLC lifted its position in shares of Altria Group by 85.1% in the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock worth $46,000 after acquiring an additional 410 shares during the period. 57.41% of the stock is owned by institutional investors.

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.