Altria Group (NYSE:MO) Trading Up 0.9% Following Analyst Upgrade

Altria Group, Inc. (NYSE:MO)’s stock price was up 0.9% during trading on Wednesday after Citigroup raised their price target on the stock from $44.50 to $48.00. Citigroup currently has a neutral rating on the stock. Altria Group traded as high as $50.00 and last traded at $49.99. Approximately 1,476,126 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 10,070,085 shares. The stock had previously closed at $49.55.

Several other research analysts have also weighed in on the company. StockNews.com raised Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. Barclays increased their price target on Altria Group from $43.00 to $45.00 and gave the stock an “underweight” rating in a report on Monday, September 9th. Bank of America lifted their price objective on shares of Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Wednesday, September 4th. UBS Group increased their target price on shares of Altria Group from $39.00 to $41.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Finally, Stifel Nicolaus lifted their price target on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altria Group presently has a consensus rating of “Hold” and a consensus target price of $50.17.

Institutional Trading of Altria Group

Hedge funds have recently bought and sold shares of the business. Maryland Capital Advisors Inc. increased its holdings in Altria Group by 154.4% during the 1st quarter. Maryland Capital Advisors Inc. now owns 575 shares of the company’s stock worth $25,000 after purchasing an additional 349 shares in the last quarter. BNP Paribas purchased a new stake in Altria Group in the 1st quarter valued at $27,000. MFA Wealth Advisors LLC purchased a new stake in Altria Group in the 2nd quarter valued at $27,000. Pineridge Advisors LLC bought a new position in Altria Group during the 4th quarter valued at $28,000. Finally, Westend Capital Management LLC purchased a new position in Altria Group during the 1st quarter worth $29,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

Altria Group Stock Performance

The company’s 50 day moving average price is $51.58 and its 200-day moving average price is $47.47. The stock has a market cap of $85.31 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 2.95 and a beta of 0.65.

Altria Group (NYSE:MO) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.04). Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the business posted $1.31 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. On average, analysts forecast that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Investors of record on Monday, September 16th were given a dividend of $1.02 per share. The ex-dividend date was Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 8.21%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is presently 85.36%.

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.