Altria Group (NYSE:MO) Stock Price Down 1.4% – What’s Next?

Shares of Altria Group, Inc. (NYSE:MO) were down 1.4% on Wednesday . The stock traded as low as $50.63 and last traded at $50.75. Approximately 1,914,975 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 6,363,190 shares. The stock had previously closed at $51.47.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MO shares. Citigroup lifted their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and lifted their price target for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Stifel Nicolaus boosted their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft boosted their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Two 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.43.

Altria Group Trading Up 1.6 %

The company has a market capitalization of $88.17 billion, a PE ratio of 8.79, a price-to-earnings-growth ratio of 2.67 and a beta of 0.64. The business’s fifty day moving average is $54.01 and its two-hundred day moving average is $52.09.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same period in the previous year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. As a group, equities research analysts anticipate that Altria Group, Inc. will post 5.13 EPS for the current year.

Altria Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s dividend payout ratio (DPR) is presently 68.92%.

Institutional Investors Weigh In On Altria Group

A number of large investors have recently added to or reduced their stakes in MO. Financial Life Planners bought a new stake in shares of Altria Group during the 4th quarter valued at $25,000. True Wealth Design LLC grew its position in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after acquiring an additional 462 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Altria Group during the 3rd quarter valued at $34,000. Peterson Financial Group Inc. bought a new stake in shares of Altria Group during the 3rd quarter valued at $41,000. Finally, Fairman Group LLC grew its position in shares of Altria Group by 85.1% during the 3rd quarter. Fairman Group LLC now owns 892 shares of the company’s stock valued at $46,000 after acquiring an additional 410 shares during the period. Institutional investors own 57.41% of the company’s stock.

About Altria Group

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.