Shares of Altria Group, Inc. (NYSE:MO – Get Free Report) traded down 0.9% on Wednesday . The stock traded as low as $50.85 and last traded at $50.91. 1,746,607 shares were traded during mid-day trading, a decline of 71% from the average session volume of 6,097,403 shares. The stock had previously closed at $51.36.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on MO shares. Barclays raised their price target on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a research note on Wednesday, November 6th. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their price target for the company from $55.00 to $65.00 in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Altria Group has an average rating of “Hold” and an average target price of $53.33.
View Our Latest Analysis on MO
Altria Group Stock Down 0.6 %
Altria Group (NYSE:MO – Get Free Report) last released its earnings results on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.03. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%. Altria Group’s revenue was up 18.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.28 EPS. As a group, equities analysts anticipate that Altria Group, Inc. will post 5.12 earnings per share for the current year.
Altria Group Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were given a dividend of $1.02 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $4.08 dividend on an annualized basis and a yield of 7.99%. Altria Group’s dividend payout ratio is currently 68.92%.
Institutional Investors Weigh In On Altria Group
A number of large investors have recently bought and sold shares of the company. Aviance Capital Partners LLC increased its stake in shares of Altria Group by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock worth $2,060,000 after buying an additional 191 shares during the period. Delta Investment Management LLC grew its holdings in Altria Group by 2.9% during the 2nd quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock worth $322,000 after acquiring an additional 198 shares in the last quarter. Fragasso Financial Advisors Inc increased its position in shares of Altria Group by 3.3% in the 4th quarter. Fragasso Financial Advisors Inc now owns 6,302 shares of the company’s stock valued at $330,000 after purchasing an additional 199 shares during the last quarter. American Institute for Advanced Investment Management LLP raised its holdings in shares of Altria Group by 3.5% in the 3rd quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock valued at $299,000 after purchasing an additional 200 shares in the last quarter. Finally, Ridgecrest Wealth Partners LLC lifted its position in shares of Altria Group by 3.5% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock worth $299,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors 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.
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