Altria Group (NYSE:MO) Trading 2.1% Higher

Altria Group, Inc. (NYSE:MO)’s stock price shot up 2.1% during trading on Wednesday . The stock traded as high as $50.58 and last traded at $50.53. 1,416,808 shares changed hands during trading, a decline of 87% from the average session volume of 10,689,489 shares. The stock had previously closed at $49.48.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Argus upgraded shares of Altria Group to a “hold” rating in a research note on Friday, May 31st. Bank of America lifted their price target on Altria Group from $47.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Stifel Nicolaus upped their price objective on Altria Group from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, StockNews.com raised shares of Altria Group from a “hold” rating to a “buy” rating in a research report on Friday, June 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.90.

Altria Group Price Performance

The company has a market capitalization of $86.12 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 3.07 and a beta of 0.66. The company’s 50-day moving average price is $47.23 and its two-hundred day moving average price is $44.14.

Altria Group (NYSE:MO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Altria Group had a negative return on equity of 232.55% and a net margin of 42.25%. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $1.31 EPS. Altria Group’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, equities research analysts expect that Altria Group, Inc. will post 5.11 EPS for the current fiscal year.

Altria Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Friday, June 14th were given a $0.98 dividend. The ex-dividend date was Friday, June 14th. This represents a $3.92 annualized dividend and a yield of 7.82%. Altria Group’s payout ratio is 82.01%.

Hedge Funds Weigh In On Altria Group

Several large investors have recently bought and sold shares of the stock. Certuity LLC boosted its holdings in Altria Group by 1.6% in the second quarter. Certuity LLC now owns 13,664 shares of the company’s stock worth $622,000 after acquiring an additional 213 shares in the last quarter. Catalyst Financial Partners LLC increased its position in Altria Group by 2.0% during the second quarter. Catalyst Financial Partners LLC now owns 11,269 shares of the company’s stock valued at $513,000 after acquiring an additional 217 shares during the last quarter. Conning Inc. lifted its holdings in Altria Group by 2.3% in the second quarter. Conning Inc. now owns 9,794 shares of the company’s stock valued at $446,000 after acquiring an additional 219 shares during the period. Patten & Patten Inc. TN boosted its position in Altria Group by 1.6% in the first quarter. Patten & Patten Inc. TN now owns 14,293 shares of the company’s stock worth $623,000 after purchasing an additional 224 shares during the last quarter. Finally, Hilltop National Bank grew its stake in shares of Altria Group by 1.6% during the 2nd quarter. Hilltop National Bank now owns 14,667 shares of the company’s stock valued at $668,000 after purchasing an additional 226 shares during the period. 57.41% of the stock is currently 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.