Altria Group (NYSE:MO) Trading Down 0.5% – Here’s Why

Altria Group, Inc. (NYSE:MO) was down 0.5% during trading on Wednesday . The stock traded as low as $50.95 and last traded at $51.22. Approximately 1,847,205 shares changed hands during trading, a decline of 62% from the average daily volume of 4,873,937 shares. The stock had previously closed at $51.46.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MO shares. StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Stifel Nicolaus lifted their price target on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Bank of America upgraded Altria Group from a “neutral” rating to a “buy” rating and increased their price objective for the company from $55.00 to $65.00 in a research report on Friday, December 6th. Citigroup upped their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Finally, Barclays lifted their price target on shares of Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.33.

Altria Group Stock Down 1.3 %

The company has a market capitalization of $86.16 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 3.03 and a beta of 0.64. The stock’s 50 day moving average is $54.56 and its two-hundred day moving average is $51.76.

Altria Group (NYSE:MO) last announced 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. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same period in the previous year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, sell-side analysts predict that Altria Group, Inc. will post 5.12 EPS for the current fiscal year.

Altria Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Thursday, December 26th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 8.03%. The ex-dividend date is Thursday, December 26th. Altria Group’s payout ratio is presently 68.92%.

Hedge Funds Weigh In On Altria Group

Hedge funds have recently made changes to their positions in the company. Aviance Capital Partners LLC raised its holdings in Altria Group by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 40,362 shares of the company’s stock valued at $2,060,000 after acquiring an additional 191 shares during the last quarter. Delta Investment Management LLC increased its holdings in shares of Altria Group by 2.9% in the second quarter. Delta Investment Management LLC now owns 7,064 shares of the company’s stock valued at $322,000 after purchasing an additional 198 shares during the last quarter. Scarborough Advisors LLC lifted its position in Altria Group by 18.5% during the second quarter. Scarborough Advisors LLC now owns 1,283 shares of the company’s stock worth $58,000 after buying an additional 200 shares in the last quarter. American Institute for Advanced Investment Management LLP boosted its stake in Altria Group by 3.5% during the third quarter. American Institute for Advanced Investment Management LLP now owns 5,860 shares of the company’s stock worth $299,000 after buying an additional 200 shares during the last quarter. Finally, Ridgecrest Wealth Partners LLC grew its holdings in Altria Group by 3.5% in the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 5,851 shares of the company’s stock valued at $299,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 57.41% of the company’s stock.

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.