Altria Group (NYSE:MO) Trading Up 0.6% – Still a Buy?

Altria Group, Inc. (NYSE:MO)’s stock price was up 0.6% during trading on Monday . The company traded as high as $56.55 and last traded at $56.26. Approximately 1,289,618 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 9,741,184 shares. The stock had previously closed at $55.93.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MO shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays raised their target price on shares of Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Citigroup lifted their price target 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 reduced their price target on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.33.

Altria Group Trading Up 0.6 %

The business has a 50 day moving average price of $51.59 and a 200-day moving average price of $49.29. The firm has a market capitalization of $95.33 billion, a PE ratio of 9.50, a P/E/G ratio of 3.18 and a beta of 0.64.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the business posted $1.28 EPS. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. On average, equities research analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 10th. Shareholders of record on Monday, September 16th were given a $1.02 dividend. The ex-dividend date was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. This represents a $4.08 annualized dividend and a yield of 7.25%. Altria Group’s dividend payout ratio (DPR) is 68.92%.

Institutional Trading of Altria Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Edgestream Partners L.P. boosted its stake in Altria Group by 66.2% during the 1st quarter. Edgestream Partners L.P. now owns 46,322 shares of the company’s stock valued at $2,021,000 after purchasing an additional 18,450 shares in the last quarter. Covestor Ltd grew its stake in Altria Group by 33.4% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $46,000 after purchasing an additional 262 shares in the last quarter. Trustmark National Bank Trust Department increased its holdings in Altria Group by 4.6% in the first quarter. Trustmark National Bank Trust Department now owns 6,175 shares of the company’s stock worth $269,000 after buying an additional 271 shares during the last quarter. Rockport Wealth LLC acquired a new position in shares of Altria Group during the 1st quarter worth $215,000. Finally, Bessemer Group Inc. increased its position in Altria Group by 45.5% during the first quarter. Bessemer Group Inc. now owns 65,405 shares of the company’s stock worth $2,854,000 after buying an additional 20,438 shares during the last quarter. 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.