Altria Group (NYSE:MO) Trading 1.2% Higher After Better-Than-Expected Earnings

Altria Group, Inc. (NYSE:MO) was up 1.2% during trading on Friday following a better than expected earnings announcement. The company traded as high as $52.17 and last traded at $52.14. Approximately 1,514,157 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 7,509,943 shares. The stock had previously closed at $51.54.

The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.28 by $0.01. Altria Group had a net margin of 42.82% and a negative return on equity of 233.80%.

Altria Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Thursday, December 26th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 7.82%. The ex-dividend date of this dividend was Thursday, December 26th. Altria Group’s dividend payout ratio is 62.29%.

Analyst Ratings Changes

A number of research firms have commented on MO. Citigroup raised their price objective on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley decreased their target price on shares of Altria Group from $54.00 to $53.00 and set an “equal weight” rating on the stock in a report on Friday. Stifel Nicolaus upped their price target on shares of Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Barclays boosted their price target on Altria Group from $45.00 to $46.00 and gave the stock an “underweight” rating in a report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $53.29.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Financial Life Planners bought a new position in Altria Group during the fourth quarter valued at about $25,000. True Wealth Design LLC grew its stake in shares of Altria Group by 420.0% during the 3rd quarter. True Wealth Design LLC now owns 572 shares of the company’s stock worth $29,000 after acquiring an additional 462 shares during the period. Legacy Investment Solutions LLC bought a new position in shares of Altria Group during the 3rd quarter worth $34,000. Kestra Investment Management LLC purchased a new stake in Altria Group in the 4th quarter worth about $40,000. Finally, Peterson Financial Group Inc. bought a new stake in Altria Group in the 3rd quarter valued at about $41,000. Institutional investors own 57.41% of the company’s stock.

Altria Group Price Performance

The firm has a market capitalization of $88.46 billion, a PE ratio of 8.82, a P/E/G ratio of 2.76 and a beta of 0.64. The company’s fifty day simple moving average is $53.66 and its 200 day simple moving average is $52.29.

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.