Altria Group (NYSE:MO) Shares Down 1% – Here’s Why

Altria Group, Inc. (NYSE:MO)’s share price was down 1% during mid-day trading on Tuesday . The stock traded as low as $59.34 and last traded at $59.42. Approximately 2,401,033 shares traded hands during trading, a decline of 73% from the average daily volume of 8,857,317 shares. The stock had previously closed at $60.02.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on MO shares. Morgan Stanley reduced their price objective on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Bank of America upgraded shares of Altria Group from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $65.00 in a report on Friday, December 6th. Finally, UBS Group increased their price target on Altria Group from $42.00 to $46.00 and gave the stock a “sell” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $54.00.

Altria Group Price Performance

The stock has a market cap of $99.35 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.56. The firm’s fifty day moving average price is $55.23 and its two-hundred day moving average price is $53.65.

Altria Group (NYSE:MO) last announced its quarterly earnings results on Thursday, January 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Altria Group had a negative return on equity of 258.72% and a net margin of 46.90%. On average, equities research analysts anticipate that Altria Group, Inc. will post 5.32 earnings per share for the current year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, March 25th will be paid a dividend of $1.02 per share. The ex-dividend date is Tuesday, March 25th. This represents a $4.08 dividend on an annualized basis and a yield of 6.94%. Altria Group’s dividend payout ratio (DPR) is presently 62.29%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Truvestments Capital LLC raised its holdings in shares of Altria Group by 4.3% in the 4th quarter. Truvestments Capital LLC now owns 4,581 shares of the company’s stock worth $240,000 after acquiring an additional 190 shares during the last quarter. Enterprise Financial Services Corp increased its holdings in Altria Group by 4.0% during the 4th quarter. Enterprise Financial Services Corp now owns 5,052 shares of the company’s stock worth $264,000 after purchasing an additional 194 shares in the last quarter. Horst & Graben Wealth Management LLC raised its stake in shares of Altria Group by 1.5% in the fourth quarter. Horst & Graben Wealth Management LLC now owns 13,015 shares of the company’s stock worth $681,000 after purchasing an additional 198 shares during the last quarter. Fragasso Financial Advisors Inc lifted its holdings in shares of Altria Group by 3.3% in the fourth 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 in the last quarter. Finally, First Citizens Financial Corp boosted its position in shares of Altria Group by 4.8% during the fourth quarter. First Citizens Financial Corp now owns 4,402 shares of the company’s stock valued at $230,000 after buying an additional 200 shares during the last quarter. 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.