Altria Group (NYSE:MO) Stock Price Up 0.3% – Here’s What Happened

Altria Group, Inc. (NYSE:MO)’s share price rose 0.3% during mid-day trading on Friday . The stock traded as high as $58.56 and last traded at $58.46. Approximately 1,426,597 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 8,466,394 shares. The stock had previously closed at $58.30.

Analyst Ratings Changes

MO has been the topic of several recent research reports. Morgan Stanley cut their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Bank of America raised shares of Altria Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $55.00 to $65.00 in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $53.29.

Altria Group Price Performance

The company’s 50-day moving average price is $54.94 and its two-hundred day moving average price is $53.57. The company has a market capitalization of $98.58 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 2.89 and a beta of 0.56.

Altria Group (NYSE:MO) last issued its quarterly earnings results 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 negative return on equity of 258.72% and a net margin of 46.90%. On average, equities research analysts expect that Altria Group, Inc. will post 5.32 EPS for the current fiscal year.

Altria Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 7.00%. The ex-dividend date is Tuesday, March 25th. Altria Group’s dividend payout ratio (DPR) is currently 62.29%.

Institutional Trading of Altria Group

Large investors have recently made changes to their positions in the company. Financial Life Planners bought a new position in Altria Group in the fourth quarter worth approximately $25,000. Redwood Park Advisors LLC bought a new position in shares of Altria Group in the 4th quarter worth $26,000. True Wealth Design LLC lifted its holdings in shares of Altria Group by 420.0% in the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after purchasing an additional 462 shares in the last quarter. VSM Wealth Advisory LLC acquired a new stake in Altria Group in the 4th quarter valued at $29,000. Finally, Marshall Investment Management LLC bought a new stake in Altria Group during the 4th quarter valued at $32,000. 57.41% of the stock is currently owned by institutional investors and hedge funds.

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.