Altria Group (NYSE:MO) Trading Up 3.2% – Time to Buy?

Altria Group, Inc. (NYSE:MO) rose 3.2% during trading on Tuesday . The company traded as high as $64.53 and last traded at $64.1970. Approximately 12,255,318 shares traded hands during trading, an increase of 6% from the average daily volume of 11,557,885 shares. The stock had previously closed at $62.23.

Wall Street Analyst Weigh In

Several brokerages recently commented on MO. Stifel Nicolaus decreased their target price on shares of Altria Group from $72.00 to $68.00 and set a “buy” rating on the stock in a research note on Friday. UBS Group lifted their price target on Altria Group from $63.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Argus upgraded shares of Altria Group to a “hold” rating in a report on Tuesday, January 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Altria Group in a research note on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $62.56.

Altria Group Stock Up 3.2%

The firm’s fifty day moving average price is $59.19 and its 200 day moving average price is $61.82. The stock has a market cap of $107.77 billion, a PE ratio of 15.62, a P/E/G ratio of 3.42 and a beta of 0.47.

Altria Group (NYSE:MO) last issued its quarterly earnings data 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). Altria Group had a negative return on equity of 287.61% and a net margin of 29.84%.The firm had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period last year, the company earned $1.30 earnings per share. The firm’s revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 26th were paid a $1.06 dividend. The ex-dividend date of this dividend was Friday, December 26th. This represents a $4.24 annualized dividend and a yield of 6.6%. Altria Group’s dividend payout ratio is 103.16%.

Altria Group declared that its Board of Directors has approved a stock repurchase plan on Thursday, October 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. EWA LLC increased its holdings in shares of Altria Group by 13.8% in the fourth quarter. EWA LLC now owns 6,333 shares of the company’s stock valued at $365,000 after purchasing an additional 767 shares during the period. NewEdge Wealth LLC boosted its stake in shares of Altria Group by 25.8% in the fourth quarter. NewEdge Wealth LLC now owns 69,674 shares of the company’s stock worth $4,017,000 after acquiring an additional 14,306 shares during the last quarter. Legacy Wealth Managment LLC ID grew its holdings in shares of Altria Group by 144.7% during the fourth quarter. Legacy Wealth Managment LLC ID now owns 1,309 shares of the company’s stock worth $75,000 after buying an additional 774 shares in the last quarter. LJI Wealth Management LLC grew its stake in Altria Group by 5.9% during the 4th quarter. LJI Wealth Management LLC now owns 4,561 shares of the company’s stock valued at $263,000 after acquiring an additional 253 shares in the last quarter. Finally, Manning & Napier Advisors LLC grew its position in shares of Altria Group by 5.9% in the fourth quarter. Manning & Napier Advisors LLC now owns 3,463 shares of the company’s stock valued at $200,000 after purchasing an additional 193 shares in the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

About Altria Group

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.