Altria Group (NYSE:MO) Stock Price Up 0.7%

Altria Group, Inc. (NYSE:MO) shot up 0.7% during mid-day trading on Tuesday . The stock traded as high as $51.36 and last traded at $51.36. 949,753 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 10,253,218 shares. The stock had previously closed at $51.02.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MO. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a report on Friday, June 28th. Stifel Nicolaus upped their target price on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Barclays raised their price target on shares of Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Bank of America upped their price target on shares of Altria Group from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Wednesday, September 4th. Finally, UBS Group lifted their price objective on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research note on Monday, September 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $49.67.

Altria Group Stock Up 0.4 %

The firm’s 50-day moving average is $51.33 and its 200-day moving average is $46.92. The company has a market capitalization of $87.98 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65.

Altria Group (NYSE:MO) last released its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.31 EPS. As a group, equities research analysts predict that Altria Group, Inc. will post 5.11 EPS for the current year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Monday, September 16th will be given a dividend of $1.02 per share. This represents a $4.08 annualized dividend and a yield of 7.97%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. The ex-dividend date is Monday, September 16th. Altria Group’s dividend payout ratio is presently 85.36%.

Hedge Funds Weigh In On Altria Group

Hedge funds have recently made changes to their positions in the business. Maryland Capital Advisors Inc. boosted its holdings in Altria Group by 154.4% in the first quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares during the last quarter. BNP Paribas purchased a new stake in Altria Group during the first quarter valued at $27,000. MFA Wealth Advisors LLC bought a new position in Altria Group in the second quarter valued at about $27,000. Pineridge Advisors LLC purchased a new position in Altria Group in the fourth quarter worth about $28,000. Finally, Westend Capital Management LLC bought a new stake in shares of Altria Group during the 1st quarter valued at about $29,000. 57.41% of the stock is owned by hedge funds and other institutional investors.

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.