Altria Group (NYSE:MO) Shares Up 0.2%

Shares of Altria Group, Inc. (NYSE:MO) shot up 0.2% on Wednesday . The stock traded as high as $44.89 and last traded at $44.80. 16,402,593 shares were traded during mid-day trading, an increase of 98% from the average session volume of 8,297,265 shares. The stock had previously closed at $44.70.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MO. Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. Stifel Nicolaus reiterated a “buy” rating and set a $50.00 price objective on shares of Altria Group in a research report on Monday, March 25th. StockNews.com upgraded Altria Group from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Finally, UBS Group upped their price objective on Altria Group from $36.10 to $36.50 and gave the company a “sell” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Altria Group currently has an average rating of “Hold” and an average price target of $46.90.

Altria Group Price Performance

The business has a 50-day simple moving average of $44.47 and a 200 day simple moving average of $42.52. The firm has a market cap of $76.95 billion, a PE ratio of 9.37, a PEG ratio of 2.76 and a beta of 0.64.

Altria Group (NYSE:MO) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $4.72 billion during the quarter, compared to analysts’ expectations of $4.71 billion. Altria Group had a negative return on equity of 222.80% and a net margin of 34.81%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.18 earnings per share. On average, equities analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Friday, June 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 8.75%. The ex-dividend date of this dividend is Friday, June 14th. Altria Group’s dividend payout ratio (DPR) is 82.01%.

Insider Transactions at Altria Group

In other news, VP Charles N. Whitaker sold 22,487 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $43.95, for a total value of $988,303.65. Following the completion of the transaction, the vice president now owns 173,485 shares of the company’s stock, valued at $7,624,665.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Hedge Funds Weigh In On Altria Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MO. Northern Trust Corp raised its position in Altria Group by 0.3% during the third quarter. Northern Trust Corp now owns 16,609,568 shares of the company’s stock valued at $698,432,000 after purchasing an additional 42,490 shares during the period. Capital Research Global Investors raised its holdings in shares of Altria Group by 1.9% in the fourth quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock worth $535,701,000 after buying an additional 242,442 shares during the period. Pacer Advisors Inc. increased its holdings in Altria Group by 17.0% during the 4th quarter. Pacer Advisors Inc. now owns 9,259,451 shares of the company’s stock worth $373,526,000 after purchasing an additional 1,343,094 shares during the period. Ameriprise Financial Inc. increased its holdings in Altria Group by 8.5% during the 3rd quarter. Ameriprise Financial Inc. now owns 9,174,355 shares of the company’s stock worth $381,278,000 after purchasing an additional 722,258 shares during the period. Finally, Van ECK Associates Corp increased its holdings in Altria Group by 120.6% during the 1st quarter. Van ECK Associates Corp now owns 8,762,047 shares of the company’s stock worth $382,201,000 after purchasing an additional 4,789,788 shares during the period. 57.41% of the stock is owned by institutional investors.

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.