Altria Group (NYSE:MO) Stock Price Down 0.3%

Altria Group, Inc. (NYSE:MO) shares fell 0.3% during trading on Thursday . The stock traded as low as $50.42 and last traded at $50.47. 1,630,695 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 10,183,499 shares. The stock had previously closed at $50.63.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Bank of America boosted their target price on shares of Altria Group from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Wednesday, September 4th. Argus upgraded Altria Group to a “hold” rating in a research note on Friday, May 31st. UBS Group upped their price target on Altria Group from $39.00 to $41.00 and gave the company a “sell” rating in a research report on Monday, September 9th. Stifel Nicolaus raised their price objective on shares of Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $49.67.

Altria Group Trading Up 0.3 %

The stock has a 50 day simple moving average of $51.27 and a 200 day simple moving average of $46.77. The firm has a market capitalization of $86.55 billion, a PE ratio of 10.54, a PEG ratio of 3.07 and a beta of 0.65.

Altria Group (NYSE:MO) last announced its earnings results on Wednesday, July 31st. The company reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm posted $1.31 EPS. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts anticipate that Altria Group, Inc. will post 5.11 earnings per share for the current year.

Altria Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Monday, September 16th will be paid a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 8.10%. The ex-dividend date is Monday, September 16th. This is a boost from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio (DPR) is presently 85.36%.

Hedge Funds Weigh In On Altria Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in Altria Group by 1.9% during the 4th quarter. Capital Research Global Investors now owns 13,279,658 shares of the company’s stock valued at $535,701,000 after buying an additional 242,442 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Altria Group by 1.6% during the second quarter. Legal & General Group Plc now owns 12,355,509 shares of the company’s stock valued at $562,793,000 after acquiring an additional 191,236 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Altria Group by 120.6% in 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 last quarter. AQR Capital Management LLC boosted its stake in Altria Group by 25.0% in the 2nd quarter. AQR Capital Management LLC now owns 6,490,441 shares of the company’s stock worth $295,055,000 after purchasing an additional 1,299,703 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Altria Group by 5.0% in the 2nd quarter. Victory Capital Management Inc. now owns 5,060,589 shares of the company’s stock worth $230,510,000 after purchasing an additional 243,201 shares in the last quarter. Hedge funds and other institutional investors own 57.41% of the company’s stock.

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.