Altria Group (NYSE:MO) Stock Price Down 0.3% – Here’s Why

by · The Markets Daily

Altria Group, Inc. (NYSE:MO – Get Free Report) shares were down 0.3% during mid-day trading on Thursday . The stock traded as low as $49.94 and last traded at $50.01. Approximately 920,247 shares were traded during trading, a decline of 91% from the average daily volume of 9,948,470 shares. The stock had previously closed at $50.16.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. StockNews.com lowered shares of Altria Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Stifel Nicolaus lifted their target price on shares of Altria Group from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays increased their price target on Altria Group from $43.00 to $45.00 and gave the company an “underweight” rating in a report on Monday, September 9th. Bank of America cut their price objective on Altria Group from $57.00 to $53.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, UBS Group increased their target price on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.20.

Check Out Our Latest Stock Analysis on MO

Altria Group Price Performance

The stock’s 50-day simple moving average is $51.57 and its two-hundred day simple moving average is $47.70. The firm has a market capitalization of $85.42 billion, a P/E ratio of 10.46, a price-to-earnings-growth ratio of 2.90 and a beta of 0.65.

Altria Group (NYSE:MO – Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. Altria Group had a net margin of 42.25% and a negative return on equity of 232.55%. Altria Group’s revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 earnings per share. 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 $1.02 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $4.08 annualized dividend and a yield of 8.20%. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is currently 85.36%.

Hedge Funds Weigh In On Altria Group

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Scarborough Advisors LLC bought a new stake in shares of Altria Group in the 4th quarter worth about $44,000. GAMMA Investing LLC increased its stake in Altria Group by 40.6% in the first quarter. GAMMA Investing LLC now owns 11,556 shares of the company’s stock worth $504,000 after purchasing an additional 3,336 shares during the period. Alaska Permanent Fund Corp lifted its position in shares of Altria Group by 10.7% during the first quarter. Alaska Permanent Fund Corp now owns 59,090 shares of the company’s stock worth $2,578,000 after purchasing an additional 5,715 shares during the last quarter. Signal Advisors Wealth LLC purchased a new stake in shares of Altria Group during the first quarter valued at $219,000. Finally, Thomasville National Bank grew its holdings in shares of Altria Group by 4.8% in the first quarter. Thomasville National Bank now owns 15,568 shares of the company’s stock worth $679,000 after purchasing an additional 720 shares during the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

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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