Altria Group (NYSE:MO) Shares Up 1.4% – Still a Buy?

Altria Group, Inc. (NYSE:MO)’s share price rose 1.4% during trading on Wednesday . The stock traded as high as $53.30 and last traded at $53.48. Approximately 1,425,926 shares changed hands during trading, a decline of 80% from the average daily volume of 7,111,883 shares. The stock had previously closed at $52.75.

Wall Street Analysts Forecast Growth

MO has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Altria Group from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $65.00 in a research report on Friday, December 6th. Barclays raised their target price on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Stifel Nicolaus increased their target price on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $53.29.

Altria Group Stock Performance

The stock has a 50-day simple moving average of $52.65 and a 200 day simple moving average of $52.65. The stock has a market capitalization of $90.52 billion, a P/E ratio of 8.16, a price-to-earnings-growth ratio of 2.83 and a beta of 0.64.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Altria Group had a net margin of 46.90% and a negative return on equity of 258.72%. Equities analysts predict that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 7.64%. The ex-dividend date was Thursday, December 26th. Altria Group’s dividend payout ratio is presently 62.29%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MO. Financial Life Planners bought a new stake in Altria Group in the fourth quarter valued at about $25,000. Redwood Park Advisors LLC bought a new position in Altria Group during the 4th quarter worth approximately $26,000. True Wealth Design LLC grew its holdings in Altria Group by 420.0% during the third quarter. True Wealth Design LLC now owns 572 shares of the company’s stock valued at $29,000 after purchasing an additional 462 shares during the period. VSM Wealth Advisory LLC bought a new stake in Altria Group in the fourth quarter valued at approximately $29,000. Finally, Marshall Investment Management LLC acquired a new stake in Altria Group in the fourth quarter worth $32,000. Institutional investors and hedge funds 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.