Altria Group (NYSE:MO) Stock Price Down 0.3%

Altria Group, Inc. (NYSE:MO)’s share price dropped 0.3% during mid-day trading on Thursday . The company traded as low as $50.42 and last traded at $50.47. Approximately 1,630,695 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 10,183,499 shares. The stock had previously closed at $50.63.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MO shares. Bank of America boosted their price objective on Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. Stifel Nicolaus increased 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. UBS Group lifted their price target on shares of Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Finally, Barclays raised their target price on shares of Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $49.67.

Altria Group Trading Down 0.7 %

The stock’s 50-day moving average is $51.15 and its 200-day moving average is $46.67. The stock has a market cap of $86.36 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65.

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

Altria Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Monday, September 16th will be paid a dividend of $1.02 per share. The ex-dividend date is 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 8.11%. Altria Group’s dividend payout ratio is currently 85.36%.

Hedge Funds Weigh In On Altria Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gilbert & Cook Inc. grew its position in Altria Group by 3.3% during the 4th quarter. Gilbert & Cook Inc. now owns 12,928 shares of the company’s stock worth $522,000 after purchasing an additional 413 shares in the last quarter. Aveo Capital Partners LLC lifted its stake in Altria Group by 3.2% in the 4th quarter. Aveo Capital Partners LLC now owns 10,845 shares of the company’s stock worth $437,000 after acquiring an additional 333 shares in the last quarter. 9258 Wealth Management LLC boosted its position in Altria Group by 17.8% during the 4th quarter. 9258 Wealth Management LLC now owns 6,300 shares of the company’s stock worth $254,000 after acquiring an additional 953 shares during the period. Gryphon Financial Partners LLC purchased a new position in Altria Group during the 4th quarter valued at about $217,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Altria Group during the 4th quarter valued at about $788,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Company Profile

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.