Altria Group (NYSE:MO) Trading 1.3% Higher – Here’s What Happened

Shares of Altria Group, Inc. (NYSE:MO) traded up 1.3% during mid-day trading on Thursday . The stock traded as high as $65.08 and last traded at $64.60. 8,191,495 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 10,374,146 shares. The stock had previously closed at $63.78.

Wall Street Analyst Weigh In

Several research analysts have weighed in on MO shares. UBS Group lifted their target price on Altria Group from $67.00 to $74.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Barclays upped their price target on Altria Group from $57.00 to $63.00 and gave the stock an “underweight” rating in a research note on Monday, February 23rd. Stifel Nicolaus decreased their price target on Altria Group from $72.00 to $68.00 and set a “buy” rating for the company in a report on Friday, January 30th. Citigroup lifted their price objective on shares of Altria Group from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. Finally, Argus raised shares of Altria Group to a “hold” rating in a research note on Tuesday, January 13th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $65.11.

Altria Group Price Performance

The stock’s 50-day moving average is $65.45 and its 200 day moving average is $62.52. The stock has a market cap of $108.00 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.75 and a beta of 0.45.

Altria Group (NYSE:MO) last released its earnings results on Thursday, January 29th. The company reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.02). The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.02 billion. Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.30 EPS. Analysts anticipate that Altria Group, Inc. will post 5.32 EPS for the current year.

Altria Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Wednesday, March 25th will be issued a dividend of $1.06 per share. This represents a $4.24 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Wednesday, March 25th. Altria Group’s dividend payout ratio is currently 103.16%.

Insider Transactions at Altria Group

In other Altria Group news, SVP Charles N. Whitaker sold 27,908 shares of the stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $67.57, for a total value of $1,885,743.56. Following the completion of the transaction, the senior vice president owned 180,869 shares in the company, valued at approximately $12,221,318.33. This represents a 13.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.08% of the company’s stock.

Hedge Funds Weigh In On Altria Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Darwin Wealth Management LLC acquired a new position in Altria Group during the second quarter worth about $27,000. Navalign LLC acquired a new stake in shares of Altria Group during the 4th quarter valued at approximately $28,000. Country Trust Bank lifted its position in shares of Altria Group by 400.0% during the 2nd quarter. Country Trust Bank now owns 500 shares of the company’s stock valued at $29,000 after acquiring an additional 400 shares during the period. Creative Capital Management Investments LLC purchased a new stake in shares of Altria Group during the 4th quarter worth approximately $29,000. Finally, Hughes Financial Services LLC boosted its stake in shares of Altria Group by 62.9% during the 4th quarter. Hughes Financial Services LLC now owns 510 shares of the company’s stock worth $29,000 after acquiring an additional 197 shares in the last quarter. 57.41% of the stock is owned by institutional investors and hedge funds.

Altria Group Company Profile

Altria Group, Inc (NYSE: MO) is a U.S.-based consumer goods company whose principal business is the manufacture and sale of tobacco products. Headquartered in Richmond, Virginia, the company’s operations are focused primarily on the U.S. market and include the production, marketing and distribution of cigarettes, smokeless tobacco and cigars. Its flagship cigarette franchise in the United States is sold through its operating subsidiaries and is among the most recognizable cigarette brands in the country.

Altria’s principal operating businesses include Philip Morris USA (cigarettes), U.S.