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

by · The Markets Daily

Altria Group, Inc. (NYSE:MO – Get Free Report)’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.

Check Out Our Latest Analysis on MO

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 – Get Free Report) 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

(Get Free Report)

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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