Altria Group (NYSE:MO) Sets New 52-Week High – What’s Next?

Shares of Altria Group, Inc. (NYSE:MO) hit a new 52-week high on Friday . The company traded as high as $55.90 and last traded at $55.78, with a volume of 848795 shares trading hands. The stock had previously closed at $55.39.

Wall Street Analyst Weigh In

A number of research firms recently commented on MO. Citigroup lifted their target price on Altria Group from $44.50 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Altria Group from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays boosted their price objective on Altria Group from $45.00 to $46.00 and gave the company an “underweight” rating in a report on Wednesday, November 6th. Bank of America dropped their target price on Altria Group from $57.00 to $53.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Stifel Nicolaus upped their price objective on Altria Group from $54.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $51.33.

Altria Group Stock Performance

The firm has a market capitalization of $94.94 billion, a price-to-earnings ratio of 9.46, a P/E/G ratio of 3.14 and a beta of 0.64. The company has a 50 day moving average price of $51.54 and a two-hundred day moving average price of $49.13.

Altria Group (NYSE:MO) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.33 billion. Altria Group had a negative return on equity of 233.80% and a net margin of 42.82%. The firm’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.28 EPS. On average, equities analysts expect that Altria Group, Inc. will post 5.11 earnings per share for the current fiscal year.

Altria Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 10th. Stockholders of record on Monday, September 16th were paid a $1.02 dividend. This represents a $4.08 annualized dividend and a dividend yield of 7.28%. The ex-dividend date was Monday, September 16th. This is a positive change from Altria Group’s previous quarterly dividend of $0.98. Altria Group’s dividend payout ratio is 68.92%.

Institutional Trading of Altria Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IHT Wealth Management LLC grew its stake in Altria Group by 15.2% during the 3rd quarter. IHT Wealth Management LLC now owns 42,032 shares of the company’s stock worth $2,145,000 after purchasing an additional 5,542 shares in the last quarter. Integrated Wealth Concepts LLC boosted its stake in shares of Altria Group by 4.0% during the third quarter. Integrated Wealth Concepts LLC now owns 88,100 shares of the company’s stock worth $4,497,000 after buying an additional 3,389 shares during the period. Investmark Advisory Group LLC lifted its position in Altria Group by 28.3% during the 3rd quarter. Investmark Advisory Group LLC now owns 77,705 shares of the company’s stock worth $3,966,000 after acquiring an additional 17,130 shares during the period. Investment Management Corp of Ontario grew its stake in shares of Altria Group by 48.7% in the 3rd quarter. Investment Management Corp of Ontario now owns 57,096 shares of the company’s stock valued at $2,914,000 after purchasing an additional 18,700 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its holdings in shares of Altria Group by 8.6% in the third quarter. Hilltop Holdings Inc. now owns 53,168 shares of the company’s stock valued at $2,714,000 after purchasing an additional 4,205 shares during the period. Hedge funds and other institutional investors own 57.41% of the company’s stock.

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.